Mounds of research show most investors have no clue of the magnitude of the opaque BD compensation conflicts and what these conflicts cost them. Even Merrill Lynch’s John Thiel has publicly noted his customers don’t know what they pay.
Knut's Views
The Merrill Lynch Mirage on RIAs
Where RIABiz’s view of RIAs as oases-of-ethics bumps up against the Merrill Lynch & Co. mirage — and why that mirage is still so effective.
In DOL/Post-DOL Fiduciary World, RIAs Need to Re-Differentiate
Tens of thousands of new fiduciary brokers will soon fly the fiduciary flag, as Merrill tells the country that the thundering herd will give all its customers – retirement and nonretirement accounts alike – ‘best interest’ treatment.
The October Surprise and Campaign for BICE
Will brokerage firms stick with commissions and service retirement accounts through the best interest contract exemption (BICE) or abandon commissions and offer “fee-based” retirement accounts?
Morgan Stanley and Fiduciary: Never the Twain Shall Meet?
With Fiduciary September 2016 just complete, two unrelated items on October 3rd – one a regulatory action by Massachusetts and the other a Wall Street Journal Op-Ed – remind us why Fiduciary September exists and what a strong sales culture can mean.
Advisors Can Define the New Fiduciary Advisor/Client-Centric Paradigm
Best Practices are crafted for the world of 2016 where the DOL Fiduciary Rule, new investor attitudes, and new technology are altering the advice landscape.
