* This original article was published on KTAR.com
Volatile market swings create emotional minefields for many. Investors aren’t sure what to do to safeguard their money and often the people they assume can be trusted don’t have the customer’s best interest in mind.
In the financial arena, most professionals carry one of two designations: broker or registered investment adviser. Both deal with financial and investment products and it’s a safe bet that most people assume they do essentially the same job.
There is, however, a significant difference. Registered investment advisers are held to a fiduciary standard while brokers must comply with a suitability standard.
The suitability standard gives advisers the most wiggle room: It simply requires that investments must fit clients’ investing objectives, time horizon and experience.