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Wealth Professional | 19 Nov 2015, 10:03 AM Agree 0
Don’t count your profit before it's hatched, advisors – that warning from a new report suggesting CRM2 world will squeeze margins regardless of fee-based revenue
  • Mike Gentile | 19 Nov 2015, 05:38 PM Agree 0
    I can't help but wonder if the regulators have borrowed a page from the airlines industry where we get to pay more for less. I was just notified by a supplier that my tech costs would be increasing by25%.I have to believe that this is just the tip of the iceberg as it relates to overall industry costs. I find it interesting that those who propose the elimination of imbedded compensation and a reduction of MERs can ignore the flip side of the coin(expenses and there are many today).Would it be unreasonable to think that if you pay less that you should probably get less? The reality is that our costs continue to increase along with the HST that gets added to each and every expense component. We all know that taxes won't be disappearing any time soon. My only question now is when will the reality sink in that there is no such thing as a free lunch. As my dear old dad used to say" there are only 2 certainties in life and they are death and taxes". Perhaps the proponents of increased costs and reduced compensation can find a solution to the afore mentioned death and taxes issue.
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