Did you ever think about who hires an advisor … and why?
Reg BI continues the main differentiation between traditional Wall Street brokers and RIAs, which is good for my advisory business. But the SEC offered little help for consumers. It affirmed their commitment to Wall Street over Main Street.
Why do many consumers fail to understand the importance of obtaining fiduciary advice, despite its overwhelming value? The answer lies in the fact that traditional brokers are able to compete against fee-only advisors by articulating a simpler, easier to understand message.