RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Merrill Lynch jumps on the fiduciary bandwagon in retirement plans but critics see lingering conflicts

Morgan Stanley, UBS and Wells Fargo Advisors already went this route but can wirehouses really deliver strict fiduciary care?

Author Lisa Shidler April 3, 2012 at 3:59 AM
1 Comment
no description available
Michael Francis: It's my belief that they shouldn't be fiduciaries because they can't be according to the way the law is set up.

Lou Harvey

|

Stephen Winks

|

Rick Meigs

|

Tom Modestino

|

Kevin Crain

|

Scott Reed

|

Hardy Reed

|

Michael Francis


Frederick Van Den Abbeel

Frederick Van Den Abbeel

April 4, 2012 — 12:42 AM

Adhering to a fiduciary standard requires a lot of prudent care and supervision. Will be interesting to see how large brokerage firms with thousands of Advisors develop systems, procedures in place to insure the transactions Advisors are taking follow the fiduciary standard of care. Thousands upon thousands of transactions each and every day — seems a lot to manage. Do they hire extra staff, develop new computer systems, require more forms, extra Advisors training to manage it all? If current system in place have always adhered to the “Suitability Standard” I wonder what core operating systems might need to chage to adhere to a Fiduciary Standard?


Related Moves

September 1, 2022 at 5:11 AM


Mentioned in this article:

Sr. Consultant
Asset Manager for RIAs
Top Executive: Stephen Winks



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings


Common Tags


Recent Articles


Popular Writers


RIABiz logo

RIABiz

About Us

Directory

Archives

Connect

RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.