What is Fiduciary Standard? | SIE, SERIES7, SERIES65 Exam Prep

The fiduciary standard is the highest legal standard of care in financial services, requiring advisers to act in their clients' BEST interest at all times, not merely recommend "suitable" investments. It applies to Registered Investment Advisers (RIAs) under the Investment Advisers Act of 1940. 📚 Learn more about Fiduciary Standard and other key terms for your SIE, SERIES7, SERIES65 exam at Open Exam Prep. 🎯 This term appears on: SIE, SERIES7, SERIES65 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Fiduciary Standard definition: https://www.open-exam-prep.com/glossary/fiduciary-standard 💡 Exam Tip: Fiduciary = BEST interest (highest standard). Suitability = suitable (lower). RIAs are ALWAYS fiduciaries. Reg BI enhanced broker-dealer standard but is NOT full fiduciary. Cannot be waived by contract. --- #securities #examprep #financeexam #sie #series7 #series65