I need help with this.

Molly is interested in ensuring that the advice she receives is guided by the fiduciary standard. She has talked to two different financial advisors. One advisor is paid based on a set fee based on the amount of managed assets. The other financial advisor has not made it clear to Molly how he gets paid, but he has assured her that she will not have to pay anything for his services. Knowing nothing else about the advisors other than how they are compensated, which advisor is more likely to follow the fiduciary standard?

The second advisor because he follows a suitability approach.

The first advisor because she does not charge a commission.

The first advisor because she charges a commission.

Both advisors are following the fiduciary standard.

Consumers who are interested in minimizing conflicts of interest and avoid being ripped off should work with a financial advisor who:

I.fully discloses any and all fees.II.fully discloses any potential conflicts of interest.III.uses mutual funds over individual stocks.

I only.

III only.

I and II only.

I, II, and III.