John De Goey’s response to Advocis fails to address how clients will suffer if many have to leave the business
It seems contradictory to ask for both the retention of embedded fees and higher standards for financial advisors
To protect clients, Advocis supports a new professional accreditation for financial advisors. Failure to do so will leave regulatory gaps.
Transparency issues are being addressed by CRM2
A recent report finds most people prefer the commission model
Where are the safeguards to ensure fee-based advisors aren’t collecting a fee for doing nothing?
Gross is not saying that advice shouldn't be paid for; he is only saying that the investment advice that investors receive should be unbiased of sales incentives
Greg Pollock’s rebuttal to Neil Gross is bang-on. It gives hope to many hard-working advisors preparing to leave the industry
Both Pollock and Archibald gloss over the pre-eminent concern in this discussion: that embedded compensation unequivocally causes bias
No one is suggesting that investors be forced to pay commissions — simply that they should have a choice in the matter