On SIFMA's Pennsylvania + Wall blog, Managing Director and General Counsel Ira Hammerman affirms investors' best interests should always be put first by their financial advisor. SIFMA has long supported a uniform fiduciary standard of conduct that would hold both broker-dealers and investment advisers to the same robust standard when providing personalized advice about securities to their individual retail clients. The standard must be appropriately tailored to recognize and preserve the unique aspects of the broker-dealer business model. "A new uniform fiduciary standard should protect investors but not restrict their access to or ability to choose the products and services they want from their brokerage firm," stated Mr. Hammerman. "As the SEC moves forward to contemplated rulemaking, our members remain committed to providing the fact-based insight the SEC needs to craft rules that work, by both protecting individual investors and adapting to different business models."