Where to Go for the Best Financial Advice | Time by Linda Stern
The financial advice business is changing dramatically in every aspect, from how advisers spend their time, to what they charge, to how they label and promote themselves.
The result? Further confusion for consumers who probably sought help to find clarity in the first place.
“Brokers” who used to pick stocks and sell mutual funds at firms like Morgan Stanley and Bank of America Merrill Lynch are now more likely now to call themselves “financial advisers” and manage portfolios for fees instead of (or in addition to) commissions.