Advisors Already Prepped For a Fiduciary Standard

It’s pretty clear by now that a fiduciary standard in one form or another is coming to Wall Street.

But  many savvy advisors decided a long time ago where the regulatory puck was heading and reshaped their businesses accordingly. Some steps they are taking:

First, they’re focusing on larger fee-based relationships.

Second, they’re trimming the price tags on their services – a major driver behind the rapid growth in advisor ETF use. (According to one study, close to 80% of advisors use or recommend ETFs, up from 40% in 2006.)

And, third, they are credentialing up with an alphabet soup of professional tags: CFP, CIMA, AIF, CPWA, CRPC, CRPC, CPWA and QPFC, among others

Here’s a link to our article in ThinkAdvisor.

About Mark Elzweig

I am an executive search recruiter with an inside track on financial advisors, the asset management industry, and Wall Street. My work has appeared in numerous publications including On Wall Street,AdvisorOne, and Fund Fire. Journalists regularly seek me out, so you catch my bon mots in The Wall Street Journal, Research Magazine, Reuters, and more. You can follow me on Twitter @elzweig or you can reach me directly at 212-685-7070 or elzweig@elzweig.com.
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