Investment Professionals and Fiduciary Duties

41 Pages Posted: 1 Mar 2015

Date Written: September 1, 2014


The distinction between brokers and investment advisers has become increasingly blurred over the past 30 years. In a 2011 study, the US SEC recommended that there be one uniform standard for both broker/dealers and investment advisers. In addition, all investment professionals could benefit from some standards. Through a review of market history, literature, and general principles from fiduciary relationships, some simple concepts emerge that could help investment professionals navigate the conflicts of interest that are inevitable given the often blended roles that they play in the financial markets.

Keywords: fiduciary, ethics

JEL Classification: G19

Suggested Citation

Jennings, Marianne M., Investment Professionals and Fiduciary Duties (September 1, 2014). CFA Institute Research Foundation Literature Review, Available at SSRN:

Marianne M. Jennings (Contact Author)

Arizona State University ( email )

Tempe, AZ 85287-3706
United States
480-964-1701 (Phone)


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