Irwin Stein

FINRA shifts an unwelcome spotlight away from itself -- by training it on the brokers it oversees

Alan Wolper: The biggest challenge [for FINRA] is finding a way to strike a reasonable balance between being the tough cop on the beat it yearns to convey and an industry association that actually helps its members.

FINRA

BrokerCheck

Kolinsky Wealth Management

SLCG

Richard Ketchum

Steve Kolinsky

Craig McCann

<p>Adherents of the hybrid RIA model seem to understand the world in the same terms as Puritan dissenters, now known as Baptists, Quakers, Presbyterians, Unitarians and Congregationalists. The members of those offshoots avoided the fate of the Puritans who believed a little too ardently that grace could not be earned, only bestowed by God. The Puritans are now extinct. More inclusive splinter sects that accommodate striving sinners, on the other hand, have gone on to survive and prosper. Hybrid RIAs espouse a new world order of accountable advice that errs on the side of inclusion of brokers despite their propensity for sin inherent in their inevitable conflicts of interest. RIA purists see this more-the-merrier mindset as too much fiduciary disharmony to throw at clients and an unsettling bifurcation when building a successful, long-haul business. RIA hybrid enthusiasts say the success of this model – and it is the fastest growing in the advisory world -- speaks for itself and that such firms house the best of the transactional brokerage business and the fee business under one roof. Moreover, these evangelists see the hybrid model as a means of bridging the gap between a whole generation financial advisors by leading captive wirehouse brokers to a model that offers more objective, open- architecture advice. Whatever side a reader falls on this dynamic topic certainly deserves a reader section for itself and we are proud to present it.</p>

Hybrid RIA

The embattled SRO is spending $3.5 million to advertise BrokerCheck and is requiring its front-and-center placement on firms' websites as  public demand for heightened fiduciary care grows

FINRA shifts an unwelcome spotlight away from itself -- by training it on the brokers it oversees

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FINRA shifts an unwelcome spotlight away from itself -- by training it on the brokers it oversees

Related Moves

March 9, 2023 at 1:23 AM

December 29, 2022 at 1:05 AM

RIABiz Directory

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