One of the many outcomes of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was a blizzard of mandated studies aimed at strengthening consumer protections.

One of the required studies tasked the Securities and Exchange Commission with examining the feasibility of a common fiduciary standard of care for broker-dealers and investment advisers. The SEC findings, which come down in favor a common standard, are not siting well with the National Association of Insurance and Financial Advisors.

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