There is a prevailing view in the independent financial planning community that when financial planning is ultimately recognized as a profession, and is regulated on the basis that advice must be delivered in a fiduciary context, that the independent planning community will take the center stage, as big brokerage firms will be afraid of the fiduciary liability.
But what happens if the opposite occurs - if a major firm steps forward to embrace fiduciary financial planning and seeks to pose a credible challenge to the independents? How might big brokerage firms transition in a fiduciary financial planning world, and can them stem - or reverse - the current rising tide of defections out of the brokerage world?Read More...