Inside Information
MAY 30, 2023
Another uncomfortable fact is that these BDs have enormous compliance departments which supervise all of the communications put out by the reps and their offices—which is required by FINRA. The compliance people have to pre-approve their communications. A national advisory firm presumably wouldn’t have those restrictions.
Sara Grillo
JANUARY 9, 2023
Specific examples: Educating financial advisors of all business models (AUM, fee only, commission, etc.) Executing outreach to college students to encourage them to avoid predatory wirehouse and insurance training programs and pursue fee-only paraplanning jobs instead. Regulators’ worries are justified.
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Inside Information
OCTOBER 30, 2021
Rostad adds that there is anecdotal evidence that disclosure of fees and costs may be different from (more effective than) disclosures of conflicts of interest or who regulates whom. “A A professional organization is interested in ensuring that everybody under the umbrella meets a clear set of standards.”.
Sara Grillo
MAY 8, 2023
So let’s just suppose that I’m Mr. And Mrs. Financial advisor, and let’s just even suppose I’m a fee-only advisor just for the purpose of simplicity, I do not sell insurance, I don’t get compensated for insurance, I can accept commissions if someone needs term life, I refer them to the insurance agent down the street.
Sara Grillo
APRIL 11, 2022
He also has considerably less of a compliance, operational, and administrative burden because he is not taking custody or discretion of his clients’ assets. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice. For advise on such matters, contact a legal or compliance advisor.
Sara Grillo
MAY 23, 2022
What is an advice-only financial planner? Advice-only financial planning is fee-only comprehensive financial planning without the expectation or even the option to manage any client investments. Financial planning is offered as a stand-alone product; it is the only thing that an advice-only financial planner does.
Sara Grillo
MARCH 16, 2024
Transparency is the single most powerful force that exists in realm of human communication. This was the first and largest in-person gathering of flat fee advisors! pricing, technology, compliance) as they build their transparent advice businesses.” Flat fee advisor “The best part was just being around quality advisors/people.”
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