Brokerages Should Prepare For A Fiduciary World (putting clients first)
Great ‘insider article’ describing how currently brokers and brokerages must act in a ’suitable world’ in which they just have to show that invest recommendations they made were suitable, although not necessarily the best for an investor. In addition, when it comes to special offerings, IPO’s and other specialty items that brokerages create or are heavily compensated to move (sell for a company), brokers do not have to inform the consumer about how much the firm is being paid to move the bonds or stock or mutual funds or whatever. Get armed and learn what a broker or Financial Advisor/Vice President (or First Vice President) of investments is really trying to sell you. This blog post by financial insiders reveals (through what it says between the lines) of what really goes on in the financial world and big brokerage houses.
