Michael Kitces blasts Investopedia for squeezing free advice out of RIAs and the advice super-site responds

Where does the customized private labeling of advisory services marketing content fit into the equation? With Fiduciary duty now codified and differentiated from brokerage, the marketing needs of advisors can be greatly enhanced by the packaging of the advisor’s value proposition as opposed to product packaging. It seems that neither Kitces or Investopedia are geared to the practical marketing needs of the advisor which better inform the investing public. Though Kitces is a highly credible and invaluable resource in the support of advisory services— in an industry which does not acknowledge or support fiduciary duty, if such support were created around an authenticate codified prudent process it would immediately be transformational reordering the industry around well defined and readily manageable advisory services presently not well articulated or supported. Great opportunity for all, especially the consumer.
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How is Investopedia better off? More traffic and a new service that does not cost them anything. How are investors better off? Free answers to financial questions. How are advisors better off? The answer is more complicated. An advisor is NY answers a question for an investor in CA. Or, the investor asks a question and is served up three different responses – result is confusion. Or, does the advisor get the investor’s contact information. This Investopedia service may have more value in the future when more investors embrace virtual advice and location does not matter.