- One occupation that is on the boundary between business and profession is that of the investment “advisor” or “planner”.Most people who have retirement funds or other investments work through a company like Charles Schwab, Merrill-Lynch or Edward Jones. They utilize the on-staff financial advisors from their investment firm for guidance. Some companies, like Edward Jones, have single agent offices, where a client has a one-on-one relationship with the advisor. Others have a bank of advisors, where you may not work with the same person twice.These advisors are essentially sales people, however, paid by commissions on sales. They serve both the client and their company, and themselves.In 2017 a new law is supposed to take effect called the “Fiduciary Rule”, though the new administration seems to be delaying it.Write a paragraph or some bullet points about how financial services is in some ways like a profession, and in some ways not.How might the fiduciary rule serve to further professionalize financial advisors?
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