FYI: I meet brokers all the time from the wires. The first thing they tell me – almost before they even say their names – is what percentage of their assets are in fee-based accounts. “I’m like 90% fee-based at this point. Oh, by the way, I’m Dave.” It’s like a preemptive, defensive answer to a question that I didn’t even ask. As though they’re ashamed of the portion of their biz that is still transactional.
Regards,
Ted
http://thereformedbroker.com/2017/07/19/brokers-go-bye-bye/
