While advised and non-advised accounts on average had similar holdings, advised accounts had more diversification, less concentration and bigger balances in the fourth quarter, according to Charles Schwab.
More advisory firms are raising their compensation packages to attract and retain talent, and more are offering equity ownership, according to Charles Schwab.
Justin Duft, director for advanced planning at Commonwealth Financial Network, says switching to separate planning fees from an asset-based fee can be a hard conversation to have with clients.
Breaking away from a wirehouse for the independent channel can mean some real changes in compensation, but the comparison can be complicated. This infographic breaks down the differences.
Finra alleges that the former LPL Financial advisor billed the family of an elderly client for a will that the FA says he downloaded from an online legal website.