John and Philip provide insight into the how the investment advisory industry is regulated and the standards of care that its professionals abide by. They discuss what it means to be a fiduciary financial advisor. Additionally, they chat about the two distinct regulatory frameworks that cover Registered Investment Advisory firms and Broker-Dealer firms. As more firms and professionals move into the fiduciary obligation due to industry trends and regulatory enhancements, this episode reassures listeners that the investment advisory industry is more client-centered than ever.