As a starting point, it should be clear (pardon the pun) that if transparency means anything, full disclosure will be a key part of our future. The Internet and everyone’s instant access to it militates against secrecy everywhere all the time. If nothing can be expected to remain secret, it’s silly to try to hide things.
I don’t mean full disclosure in the sense of lots of fine print that nobody reads and nobody wants you to read. Instead, within financial services, I mean full disclosure in the sense of conveying real understanding about what is being offered and why, about what can go wrong and the likelihood of something going wrong, and about what one’s goals are and ought to be along with a clear statement of what success will look like or cannot look like. Full disclosure will mean real clarity and no more complexity for its own sake (so as to justify a higher fee).