Independent Financial Advisors Gaining Market Share
The Wall Street Journal reports that customers are moving towards independent registered investment advisors (RIA) and away from Wall Street brokerage firms. RIAs brought in $108 billion in new assets in 2008 while brokerage firms lost $8 billion. The change is seen in large part as a migration towards more objective financial advice. A registered investment advisor acts as a fiduciary , offers an advisory account , and is free of many of the potential conflicts of interest that are inherent in...
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