Fiduciary Standards and Financial Regulatory Reform
Most investors don’t know what the “fiduciary standard” means. In short, it means the adviser is looking out for the best interest of its clients at all times and will/must disclose any conflicts of interest that arise from the adviser’s business dealings. As a registered investment adviser Bear Mountain Capital is subject to this “fiduciary standard”. However, the main wire-house firms (Morgan Stanley, UBS, Merrill/BofA, etc.) are not… nor are insurance companies. This is a tremendous disservice to the clients they attempt to serve.
Below is a link to an article discussing the current reform that just passed and the efforts to push broker-dealers/wire-house firms and insurance companies under the same standard: