Summary: A new analysis by the Institute for the Fiduciary Standard found that the Form ADVs of nine large financial services firms, including Edward Jones and Merrill Lynch, have more conflicts of interest than those of the 135 registered investment advisors surveyed. But perhaps more telling, and often overlooked, is the fact that conflicts of interest are on the rise among RIA firms, which hold themselves out to be independent entities offering objective fiduciary advice.
 This study really points to the fact that advisors are running very distinct and disparate practices among them. Even when you look within these numbers, what you don’t see is the quality and the manner in which they’re actually handling these conflicts."Brian Hamburger, president and CEO, MarketCounsel. |
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