making the distinction: investment advisors versus brokers

Financial Advisor Magazine: "At least one company has already probed investor attitude’s regarding investment advisors versus brokers.
A survey conducted by TD Ameritrade earlier this year found that 43% of investors were not aware that stockbrokers and RIAs provide different levels of investor protection. This compares to a prior survey in 2004, where that figure was 41%.
The survey, which involved interviews with 1,000 investors, also found that 51% of investors were unaware that brokers are not required to disclose all potential conflicts of interest before providing financial advice, according to TD Ameritrade.
Only 26% of investors were aware that only investment advisors have a fiduciary responsibility to act in a client’s best interests, while 51% incorrectly believed both brokers and advisors were subject to the requirement, according to the survey.
Public comments on the SEC’s draft proposal are due by July 19."