Fiduciary setback: Your greatest marketing opportunity ever?

With the Senate killing any chance for a fiduciary standard to become part of the upcoming financial reform legislation, it's time to move on and realize that Washington is not all that interested in helping investors.

But advocates of a fiduciary standard for financial advice givers shouldn't view Washington's inaction as a setback. It's actually the greatest marketing opportunity ever, if only financial advisers will start telling investors why they're better.

Investors are confused, misinformed and hungry for honesty. They want fiduciary treatment, they just don't know what it is and how it differs from what they probably get from a provider.

According to Evan Cooper there are some steps you can take to deal with clients and to invest.
First you need to create a simple plan, a five-step statement of how you will or want to act with clients.
Step two, don't keep your statement a secret. Put it in a prominent position on your website. Add it to your newsletters...
Step three, at every meeting with prospects, show them your statement. Finally encourage them to follow your statement and when they talk to providers.

By taking the advantage of their inherent advantages, fiduciary advisers can snatch marketplace victory from jaws of legislative defeat.

I think investing is always a good thing. Especially when the government doesn't want to help in some areas. Then it's the task of financial advisers to insure that their client and other people invest in these areas and products.