Tag Archives: secrets of warehouse

Secrets of the Wirehouse: Self Regulatory Bodies Favor…Themselves

Most consumers don’t know that there are two primary regulators for financial advisors. Further, most don’t know that one of those bodies is not governmental, but a self-regulatory body.

Advisors who charge fees are generally regulated by the Securities and Exchange Commission, a government regulator, but “Advisors” who earn a living by selling products (receive commissions in exchange for selling mutual funds and variable annuities) are regulated by an entity known as FINRA, the Financial Industry Regulatory Authority, which is a self-regulatory body.

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Secrets of the Wirehouse: (Not So) Hidden Profit Centers

Broker-Dealers do not have client interests in mind, it’s just not possible given where they are their income. This articles details some of those profit centers and how they use them (hint: very little transparency).

3 Hidden Broker-Dealer Profit Centers Exposed

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