 [There is friction between the wirehouses, their advisers and clients] This has been a trend since 2008. These firms have been scratching to increase margins."Brian Hamburger, president and chief executive, MarketCounsel |
Is the transition to independence worth it?
Kennith Corbin | On Wall Street, September 2016
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Summary: Dale Cebert has gone from advising as an independent registered investment adviser to a massive wirehouse and back again to the independent world, and he is eager to talk up the virtues of both models.
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