Ethics in Practice - Suitability vs Fiduciary Standards

http://www.forbes.com/2010/08/09/cfa-fiduciary-duty-personal-finance-broker-suitability.html This may be an unsettling article for some people who think the rigorous CFA ethical standards are practiced in some major divisions of the the large companies. By intention, they are not.

Is anyone with asset management experience willing to speak on the fiduciary standard in practice?