June 2, 2017
I am an advisor with a regional firm. The majority of my clients are commissioned based and pay far less than would if they were moved to a fee based option. Fee based options are only good for the broker, and the broker dealer. Most fee based accounts have poor performance and when markets go down clients are not happy about ongoing fees. The DOL Fiduciary rule will limit invest choices significantly because broker dealers do not want to take any risk and therefore will limit the menu of investment choices available to the ordinary investor.
Vice President I Sr Financial Consultant
BOK Financial Advisors
300 N 32nd St
Muskogee, OK 74401