One of the measures from Dodd-Frank that the current administration wants to roll back is a provision that investment professionals act in the best interest of their clients.
Presumably, they want the option to steer you towards their in house funds that have the highest fees instead of helping you het the max return on your investment.
I actually have no problem with this, I have a bigger problem with the misnaming of people's roles - I.e. It's BS to call a stock broker without a fiduciary duty a "financial advisor" but if they're called a Sales Rep I have no problem if they're not looking out for you
Presumably, they want the option to steer you towards their in house funds that have the highest fees instead of helping you het the max return on your investment.