Why the New York Times fiduciary article won't deter the special interests
Consumer-protection regulations rarely get stiffer in the legislative process
Stephen Winks
Ron’s assessment is brilliant and absolute, so where will fiduciary standing be supported and even stregnthened?
We are in need of a fee market advisory services solution divorced from brokerage conflicts. Given it does not look good for a brokerage or insurance fiduciary solution we must now turn to either: (1) banks superceding brokerages (employee, custody and contract vendor models) in being responsive to the advisory services needs of the advisor or (2) a new type of large scale advisory services support firm which is not defined by brokerage or conflicts of interest.
Both these promising solutions require the construction of a highly structured easy to manage and execute support infrastructure which can safely accomodate advisors more entrapraneurial than conventional bank employees in trust, advisory and brokerage.
SCW
SCW
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