Wow - our industry is in a worse mess than I realized

[jfoxcpacfp]

A new study finds that find that the market and industry mechanisms for financial advisor “self-regulation” appear to be failing (you don't say!) I have a low opinion of the financial advice industry but I didn't realize it was as bad as Michael Kitces describes in today's article.

Do we need a fiduciary standard? Yes

Do I have hope that it will happen and, if so, that it will really work? Sadly, I don't

[Docbeans]

Whoa- that's appalling! No wonder there are so many of us who've fallen prey to these predatory practices. This industry is ripe for disruption.