The best article I've seen on the establishment of a fiduciary standard in financial advice, with one brave woman, Phyllis Borzi, leading the charge.
Most consumers are not aware how seldom financial advisers have been fiduciaries, required to put their clients interests first.
As you read this article, know that the obstructionists, those who paid for the "industry groups" and the elections of senators and congress people who influence the choice of commissioners are largely financial product companies, the banks, the insurance companies and brokers.
Financial advice should be about delivering freedom into client lives, placing client interests above financial structures and products. As long as industry power is on the sell side, so that regulations are adjusted and the language is corrupted keeping "advice" and "education" and "counseling" as terms that can be used by product companies and their sales people, a fiduciary standard will not hold, trust will not be restored in financial services, and the consumer will continue to be rightfully outraged and wrongfully abused.