This is precisely why both doctors and attorneys are considered 'professions' - as they both have articulated professional obligations that are primary to their

This is precisely why both doctors and attorneys are considered 'professions' - as they both have articulated professional obligations that are primary to their making money. They both have duties of either care, or of law to their client, even and especially when those duties conflict with them making more money. If you chose the more money of standard of care, or more money over the client's interest, you lose your professional license. In the context of a financial advisor, that duty should be fiduciary in nature, but as there is no professional obligation, no recourse for failure to keep that obligation, you have a race to the bottom.