For a fiduciary the cost is approximately 1% of the net asset value of an annual portfolio, while for a non-fiduciary the cost is only 0.05% ( Carosa). Although the price is significantly higher, the benefits that come with it make up for the cost. The peace of mind of knowing that an advisor must legally act in the best interests of their clients is a wonderful thing. Although non-fiduciary entities' annual management fees are lower, investors still end up paying more in hidden fees and poor investments. Bottom line: Requiring broker dealers to follow a fiduciary standard would be very beneficial to investors. It would definitely allow investors to choose the best financial options available to them. They should not worry that their advisor has alternative motivations. They would also have a more dynamic investment strategy that changes as their needs change. It will take a lot of legislative push to bring about a standard fiduciary policy, but I expect that to happen soon