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MarketCounsel event opens window on race to first $100-billion RIA and why a new round of 'destruction,' 'blunder,' culture wars, tech disillusionment and SRO jockeying must play out

With hedged hyper-optimism, Marty Bicknell, Ron Carson, Mark Tibergien and Shirl Penney got real with Graham Thomas about mad egg-breaking enroute to the perfect RIA omelet

Author Graham Thomas December 14, 2015 at 8:55 PM
1 Comment
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The shindig opened with a salute to immortal Fontainebleau guests as RIAs themselves indulged in dreams of destiny.



RIA Compliance

Stephen Winks

Stephen Winks

December 15, 2015 — 9:09 PM

Andy Putterman offends our top advisors who are the epitome of technical competency with the assertion that they are malcontents if they want to act in their clients best interest as required by statute. The inability of the industry to execute in advisory services is its most significant challenge and sends the wrong message to all those who would like to actually acknowledge and support fiduciary duty. Surely Andy’s malcontents are the key to the industry’s evolution to fiduciary duty. The person ethics and integrity of advisors now being subverted by brokerage culture which does not allow the broker to be accountable for their recommendations when rendering advice (in avoidance with fiduciary liability), is the primary deterrent to the professional standing of the broker.

Culture is terribly important but not to preclude innovation (malcontents) but to advance it. The paralysis of our largest institutions in their ineffective support of fiduciary duty and professional standing is precisely due to Putterman’s “malcontent sentiment “ which is why they are so vulnerable to first rate technical competency of leading advisors..

Stephen Winks

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Mentioned in this article:

MarketCounsel | HamburgerLaw
Compliance Expert, RIA Set-up Firm, Regulatory Consultant
Top Executive: Brian Hamburger

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

RIA Publication
Top Executive: Eric Clarke, CEO

Carson Group
Consulting Firm
Top Executive: Ron Carson

Dynasty Financial Partners LLC
Specialized Breakaway Service, Mergers and Acquisition Firm, RIA Set-up Firm
Top Executive: Shirl Penney

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