There is a silent struggle over the word Fiduciary in the financial services industry.  I am biased not only because the firm I work for has a Fiduciary duty to its clients but because I think it’s the ethical thing to do.  One of the most frustrating things is discussing investing with a friend or relative and slowly realizing that they are being sold the investment product of the month by someone they think they can trust.  They are convinced that investing is about making timely trades in and out of asset classes, sectors, or even individual securities and that “their guy” has an edge.  This edge never seems to be quantified as their client statements don’t show returns or benchmarks in any meaningful context and there is no master plan that includes both their taxable and retirement accounts. The Fiduciary battle is important and is something all investors should be aware…