IMAGINE A CONVERSATION that goes something like this:
Stockbroker: Mr. Client, I am not just your broker. I also am your Certified Financial Planner, a distinguished designation that carries with it the obligation to be your fiduciary. I don’t want to use fancy words with you, so let me tell you what a fiduciary does. A fiduciary puts his clients’ interests ahead of his own. So I would never do something like sell you a high-fee mutual fund just because I’m a little short on the payment for my new ski chalet. I’d sell you the right fund with the lowest possible fees.
