By Hal M. Bundrick NEW YORK ( MainStreet) -- Just how good is the investment advice consumers receive from a financial advisor? A group of industry leaders is proposing a new performance standard to help consumers find out. The "Universal Advisory Performance Standards" would allow investors to compare results based on the performance of advisor recommended portfolios - before the advisor is hired.
The free white paper can be downloaded at uapstandards.org. The comment period will continue until October 18, 2013. Comments should be e-mailed to info@SpauldingGrp.com and may be sent anonymously. The UAPS Executive Board is currently exploring options for moving forward with the new standards, including transferring responsibility to a third-party. --Written by Hal M. Bundrick for MainStreet