just answer yes or no, and give your 2 cents. I asked a question earlier and received an answer from a user named annie. She told me that my profession was a fraud, and she could prove it. She has a link to a bankrate.com article. What Annie does not realize, and that prompted this question of my own. Is that there are major differences between "Brokers" and "Registered Investment Advisers"
The latter , is held to a legal responsibility to provide service that is in the clients best interests. That means I have a fiduciary duty to my clients, that is legally binding. . .
Brokers...are connectors of people and product. they do not provide planning... they do not provide a written plan with instructions. . at the top of your statement if your account is a "Brokerage Acct" you have a broker...not an "advisory acct"
this is a huge misnomer...brokers advertise they provide planning, but they do in fact...not. http://www.financial-planning.com/pubs/fp/20060501011.html
false fiduciary
2007-11-10
13:17:36
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3 answers
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asked by
Chad B
1
in
Investing