You may have expected New York City Comptroller Scott Stringer, in a "politics as usual" scenario, to closely ally himself with Wall Street interests. Wall Street can be a significant source of campaign contributions. In March, Stringer's office issued a blistering report, entitled, "Safeguarding Our Savings: Protecting New Yorkers through the Fiduciary Standard." Although much has been written about the difference between a fiduciary obligation, which legally requires an advisor to place a client's interest above their own, and the lower "suitability" standard of brokers and insurance companies, this report goes for the jugular. All registered investment advisor, or RIA, firms, on the other hand, are held to the fiduciary standard.