This article highlights the importance of an RIA to always adhere to a strict fiduciary standard with each and every client. Every client has a unique situation and the ins and outs of each situation has to be known and thus treated differently. This example here is unfortunately all to common in the investment advisory world, especially with the large investment management firms, that are more concerned with increasing their AUM than providing their clients with the best and most suitable service.
We started our RIA Axion Financial Group, to only work with a very small group of clients, so that we could know each client's personal situation very well and thus treat each client's investment situation accordingly. I am sad to see this news headline and at the same time I know that it is for examples like these that we started our firm, to offer a solution to these problems that plague our industry.
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