Independent Firms

Here is an interesting Wall Street Journal article on the turmoil within the big name brokerage firms. Brokers are switching from firm to firm, and many are leaving to use our independent model:

http://online.wsj.com/article/SB126256739671014281.html

I especially like the Morgan Stanley Smith Barney spokesman that says, “The majority of departures have been people with below-average revenue production.” Keep in mind they are talking about their own revenue instead of how well their clients are doing. With these firms, it’s all about commissions.

Independent firms like our own don't have a conflict of interest. We don't make money from trading commissions. Our fee-only system is based on assets under management, so the more we grow client portfolios the more we (and our clients) are rewarded.

David Vomund