SEC staff, who prepared the Commission's Study on Investment Advisers and Broker-Dealers, based their recommendations on meetings with a wide assortment of industry groups, entities and individuals - see below list.  As reported yesterday, the staff recommended that brokers and advisers, alike, abide by the same uniform fiduciary standard of conduct. 

1. American Council of Life Insurers.
2. Ameriprise Financial.
3. Association for Advanced Life Underwriting.
4. Association of Institutional Investors.
5. Bond Dealers of America.
6. Charles Schwab.
7. Committee for the Fiduciary Standard, Professor Daylian Cain of the Yale School of Management, and Professor Tamar Frankel of the Boston University School of Law.
8. Consumer Federation of America and Fund Democracy.
9. Edward Jones.
10. Financial Planning Coalition.
11. Financial Services Institute.
12. FINRA.
13. Investment Adviser Association.
14. Morgan Stanley Smith Barney.
15. NASAA.
16. Primerica.
17. Public Investors Arbitration Bar Association.
18. SIFMA and Oliver Wyman.
19. State Farm.
20. TD Ameritrade.
21. TIAA-CREF.
22. UBS.
23. Wells Fargo Advisors.

For further details, go to:   [SEC 1/21 Study]