Can a “Fiduciary Only” Advisor Take Commissions? | ThinkAdvisor By Bob Clark

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Broker-dealers and custodians are wary of alternatives, but advisors need them to compete.In response to my July 30 blog (The Case for a New Advisor Designation: ‘Fiduciary-Only' Advisors), advisor Russell Rivera wrote the following email: “As an advisor fairly new to the business, I find it interesting to read about how some people think about the business itself. However, your most recent article made me want to join the conversation. As a person who offers financial advisory services, I like the ‘fiduciary-only’ label. It shows that I’m on the same side as my clients. I always share that with my clients and prospects. However, I am not ‘fee-only’ as the CFP Board puts it. When it comes to investments, I am. I believe that this is the intention of the ‘fee-based’ moniker. more...  

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