• Posted By s.winks@SrConsultant.com
    Thursday, December 21 2017 at 10:45 AM
    Mark, The Consumer Federation of America presumes all things being equal between advice and transaction which is simply not the case. Brokerage transactions have no ongoing accountability for recommendations, thus no ongoing fiduciary duty in the client's best interest (as defined by statute). Advisors have significant ongoing fiduciary duties for their ongoing services rendered. Cost are being streamlined to the point that personalized advice is cheaper than expensive packaged products. SCW.