Do you think that physicians’ advice should be based on their patients’ best interests? How about lawyers? Plumbers? Financial brokers? An advisor who has what is termed a fiduciary duty is required to use the best interest standard with his client. For example, an attorney is prohibited from recommending that his client proceed to trial, which would be beneficial financially to the lawyer, if the attorney believes that a settlement serves his client’s interest better. While it may not always work this way in the real world, this is how it is supposed to happen. "Toilet's clogged, ma'am. Better replace the whole thing." Shockingly, investment brokers, unlike certified financial planners, have no fiduciary responsibility when advising clients on thei r personal investments. They are free to make financial recommendations that are ‘suitable’ for a client , even if this would not be in the clien t’s best interest. The b...
MD Whistleblower presents vignettes and commentaries on the medical profession. We peek 'behind the medical curtain' and deliver candor and controversy in every post.