Slide 10

Levels of Fiduciary Standing

With a series 65, or 66 exam an advisor can claim Fiduciary standing.

However, there are many Levels of Fiduciary Standing (see Caveats to the right). Fiduciary level depends on all these factors.

In many cases the type of company an Adviser works for indicates how compromised Fiduciary Standards are likely to be.


  1. Is the Advisor legally vulnerable to the Fiduciary Standard? Or in practice is the Advisor to a large degree legally immune as an employee of a large organization?
  2. Does the Advisor work for an organization that commits to the Fiduciary Standard?
  3. Do their business practices fully align with the Fiduciary Standard?
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