The current standard for an adviser is that they must recommend only products that are suitable. A Fiduciary would be required to recommend the most suitable products.
Yesterday's Toronto Globe & Mail Report on Business grabbed me with an article about the duties of financial advisors to their clients and how they are paid. It's hard to miss the parallel to our business as this piece explores the need for the financial services industry to assume their appropriate fiduciary duties.
The takeaway from this is that if consumers want transparency from the financial services industry they want it from the real estate industry as well. Consulting is clearly the way to deliver it real estate clients!
If you scroll down far enough after reading the article,
Continue reading Taking a cue from the Financial Services Industry.
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