Advisor Alert: Would you take a fee-based commission?

With all the regulatory changes being proposed and implemented in the industry, I’ve been talking to advisors, taking their pulse on what’s been happening and if they had any ideas for getting things on track, so you can focus on what you do — advise clients.

Atlanta-based advisor, Arthur Farr, brought up some pretty interesting ideas in a recent discussion we had that I wanted to float to you and get your feedback on.

I asked Farr about the biggest issues facing the industry today. He didn’t hesitate in his answer.

“As I look around, I find that we have too many hunters out there, too many out there looking for the kill,” Farr stated. “I think that product design creates that.”

He said an alternative to that approach is the one he employs: “At our business, we’re farmers. We’re looking at breaking the ground, sowing, reaping. That’s through meeting and working with people.”