Do You Consider Yourself a Fiduciary?

With the president throwing his support behind a proposed fiduciary standard for retirement accounts, the debate over the rule is intensifying. Fifty-three percent of advisors who responded to our survey are already serving in a fiduciary capacity, compared to about a quarter of them who act as a fiduciary sometimes and 22 percent who don’t consider themselves a fiduciary. At large IBDs, however, the fiduciary model is more common, with 59 percent of advisors considering themselves fiduciaries. Meanwhile, only 17 percent aren’t acting as fiduciaries at these firms.