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Wealth Professional | 19 Aug 2015, 08:15 AM Agree 0
The most unlikely hero has come to the rescue of advisors offering analysis on whether commissions can exist under a fiduciary standard
  • Debbie | 19 Aug 2015, 06:43 PM Agree 0
    "Our aim is not to reduce anyone's profitability," Really I thought the 17 billion plus annually being ripped off from investors was going to go back into investors pockets...wouldn't that reduce someone's profitability?
    "We are absolutely not banning commissions" "We just want everyone who is working on retirement accounts to be acting as fiduciaries." Not sure he means "acting" as in actions or "acting" as in pretending. Does this guy even know what the meaning of fiduciary is?
  • Mark Matsumoto | 23 Aug 2015, 07:13 AM Agree 0
    It would be interesting to see what happens if he means than advisors can't work for the manufactures! In general this would say they clearly separate the distribution and manufacturing. Ie firms can't make their own funds, present themselves as "advisors" and only sell their own products unless the client specifically asks for something else.
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