While Advisor Group's high-powered organic growth strategy unfurls, Valerie Brown unleashes Steve Chipman to do the inorganic wet work of rolling up IBD orphans -- and maybe even some RIAs
Poached from Foothill Securities, Chipman cites his former employer as the reason he can talk the talk of his quarry -- smaller firm execs seeking a port in a fiduciary storm
Author Sarah O’Brien
January 25, 2017 at 3:53 PM
January 25, 2017 — 8:47 PM
Chipman notes "we believe in the core principles that drove our platform strategy and believe they should continue to be the key elements of a new uniform fiduciary duty: maintain choice and allow commission business, create a consistent standard of care across our non-qualified and qualified business" Unfortunately, it is unlikely the core principles that worked under a suitability standard do not work under a fiduciary standard. Thus, the big challenge AIG faces is not more of the same but an entirely different fiduciary infrastructure based on prudent process, advanced technology.and a retooled product menu which do not resemble conventional brokerage. SCW
January 26, 2017 — 1:07 AM
I agree with Steve. Also don't get why folks don't just tell people who gets paid how much and for what. Clear, simple,defendable etc. Just dumb!