Why the New York Times fiduciary article won't deter the special interests
Consumer-protection regulations rarely get stiffer in the legislative process
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.
Biz Briefs: SEC cracks down anew on RIA reverse churning ~ Envestnet borrows $350 million to buy its own stock ~ Fidelity is creating a crypto waiting list while exec questions crypto ecosystem
Fed up SEC is ready to take on all nonsense at once; stock shocks, Orwell's new name game; Fidelity hosts a line dance