According to the Wall Street Journal, brokers fees are potentially about to drop. That’s great news for your everyone (except the brokers themselves), especially your clients! The Financial Industry Regulatory Authority is looking to update its transaction costs standards, which by most standards are decades old…
Here’s a couple of excerpts from the Wall Street Journal article:
- Many investors think of the broker’s commission as the cost of buying a security, but that is just the beginning.
- The lesson: Regardless of how regulations might change, investors must
protect themselves from getting chiseled.
To read the full (pre-highlighted for areas of importance) article: CLICK HERE.
I hope this article opens your eyes, and consequently your client’s eyes, to the importance of taking ownership of retirement funds. Some brokers are fantastic, but some aren’t. Use this information to empower clients to know the difference.
Happy selling; implement and thrive!