Fiduciary Standard Should Be Based on How Brokerage Industry Works
A reader says all fees, transaction costs and loads should be transparent and "comparison-shopped for by a broker 'advising' any client." Therein lies the rub.
Understanding Advisor Economics 101: Follow the Money
The economics of being a wirehouse broker vs. an independent advisor, of the wirehouses vs. fee-based financial services firms, and the CFP Board.
Can CFPs Really Be Fiduciaries?
To my mind, the onus for establishing standards for how CFPs should live up to a fiduciary standard fall squarely on the CFP Board.
A Peek Behind the Robo-Advice Curtain
How’s this for marketing? You tell me what you own, I’ll find funds that performed better and call the difference your “lost earnings.”
Why AUM Fees Still Make (Im)Perfect Sense
A flat-fee model provides some benefits, but for retail clients and independent advisors, charging fees on assets under management is still the go-to model.
SEC’s Walter: Fiduciary Rule Under ‘Serious Consideration’
"I think this [rulemaking] should be a priority because it is a benefit to investors," Sen. John Tester of Montana told the chairwoman during a Senate Banking Committee hearing on Thursday. "You should push it."
Will the DOL Finally Show that Fiduciary Advice Is Better Business?
Cornerstone of new proposal is expected to be “substantial economic analysis.”
Why We Need a Financial Advisory Profession
The very good reasons why retail investors—all of us, in fact—need a true profession to provide financial advice.
Limits of Advice: Why the Brokerage Model Still Has Financial Advantages
When it comes to the issue of raising revenues by adding clients, brokers have it all over full-service fiduciary advisors.
Consider Scott Simon’s Modest Proposal to ‘Solve’ the Fiduciary Issue
Why shouldn’t an ERISA standard, the Morningstar Advisor columnist asks, be imposed on both RIAs and brokers?