How RIAs -- overzealous to fulfill 'fiduciary duty' -- overdeliver to small clients, hurt their practices and end up with worse overall service levels
The 1940 Act does not require advisors to deliver lower-paying clients the same service as higher paying ones -- important to realize or client segmentation is nullified
Author Matt Sonnen Guest Columnist January 14, 2025 at 3:32 AM
Mike Betz
January 14, 2025 — 6:03 PM
Fabulous column, Matt. You’re absolutely right—this topic has been debated, dissected, and often misrepresented for ages. Really appreciate the clarity and elegance with which you’ve laid out the issue and your thoughtful insights. Well done.
FAA
January 15, 2025 — 1:22 PM
You would be out or your mind to think alternative strategies are in the best interest of an account paying $7K per year in fees for a number of reasons.
