Luring Millennials Is a Waste of Advisors’ Time
Advisors are bombarded these days by urgent calls to attract young clients. Here's why that advice is off the mark, editor-at-large Bob Clark writes.
Why It’s So Hard for Brokers to Act in Clients’ Best Interests
A study covered in "Freakonomics" confirms: There is more money to be made taking advantage of investors than there is acting in their best interest.
Who’s Your Robo?
In today's digital world, “online service” is largely an oxymoron. That's why I'm not too worried about the threat of robo-advisors.
What Firms Claim About Their Brokers’ Fiduciary Duty (and Lack Thereof)
Broker-dealers publicly market themselves as putting their clients first. But when it comes to arbitration cases, they sing a different tune.
Clients Deserve a Clear Choice Between Sales and Advice
There's nothing wrong with commissions as long as the “clients” understand that they are getting “sold” rather than “advised.”
Is Fiduciary Sales an Oxymoron?
DOL and SEC need to make the distinction between sales and advice clear—and stop letting anyone other than an RIA call themselves an advisor.
Toward a Workable Fiduciary Standard for Brokers: The 7 Questions
To tell if brokers are really acting like fiduciaries, ask these seven questions about a client's portfolio to check for possible broker abuses.
An SEC Broker Fiduciary Standard May Undermine the ’40 Act
In my March 25 blog on ThinkAdvisor.com, “Will She or Won't She? Mary Jo White and the Broker Fiduciary Standard,” I voiced some concerns about SEC Chairwoman White's recent remarks at SIFMA's Legal and Compliance Seminar in Phoenix pertaining to the SEC's plans to move forward with a fiduciary standard...
Why Commissions Are Also Bad for Brokers
Commission-based brokers are the only guys in the hugely successful asset management game who aren’t getting cut in on the gravy train.
Is the DOL’s New Proposal Really a New Broker Standard?
As I make my way through the DOL’s proposed rule changes for brokers, the sentence that keeps running through my mind is: “We’ve been had.”