Not all advisors are required by law to always act in the best interest of the client. This is called the fiduciary standard and only advisors that work with organizations registered with the Securities and Exchange Commission (SEC) as Registered Investment Advisors (RIAs) are required to meet such a high bar. That may seem absurd, but a separate level of care exists for advisors affiliated with organizations that are classified as broker-dealers. Broker-dealers are regulated by the Financial Industry Regulatory Authority (FINRA) and are required solely to provide advice and financial products that are suitable for a given clients needs. Suitable is a subjective term that can mean different things to different people. And therein lies the problem. The Department of Labor is advancing rules that will require broker-dealers to adhere to a fiduciary level of care when working with retirement plans, but this is only a component of most people's financial profile and it remains to be seen..