The mindset is likely to make it hard for broker-dealers to compete with fee-based advisors.
Estimated reading time: 0 minutes, 18 seconds
Brokers Need to Rethink Their Views on Providing Advice
Last year was the first year in which revenues from fees for the top 50 independent broker-dealers exceeded revenues from commissions, but many firms still view advice as a liability rather than a value-added service. So reports Financial Planning.
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