216 THE SECURITIES INDUSTRY requirements that RIAs must meet. Such an approach would at least allow vigilant investors a clear choice between fiduciaries and nonfi- duciaries. Whatever the SEC does with the standards of care for bro- kers and RIAs, however, investors will have to remain vigilant or risk having their nest eggs damaged in an environment in which the stan- dards are unclear. In an environment of shifting duties and poorly understood titles, RIAs and brokers are desperate to distinguish themselves from the crowd that is competing for control of the approximately $20 trillion in assets held by baby boomers and senior citizens. Many of them try to set themselves apart by earning ``designations''--certification that they have completed an advanced course of study and/or passed an examination indicating their mastery of the subject matter.