Every investment product or service ever devised by Wall Street and foisted upon the public demands what I refer to as a “fiduciary response.” By a fiduciary response, I mean that every investment should be vetted for conflicts of interest, unsavory business practices and undisclosed or excessive
fees--before the product is peddled to the masses with accompanying promises of integrity and potential to outperform the market. That includes everything from a mundane money market fund to something as complex as a Madoff-linked bank note.
|