Subject: IA-BD-Conduct-Standards
From: Phillip Hamilton
Affiliation: Stifel Investment Services

June 5, 2017

Why couldn’t there be a “hard cap” of say 1% on any retirement account for 12 months trailing.  If a client  wants to do less that’s fine. Many retail clients buy and hold stocks and bonds in their retirement accounts.  They still want a dedicated broker and they do not want to “self-direct”.   These people need not enter in to a fee structure advisory platform. If the broker acts in the customer best interest, which he should do anyway, it’s a very good deal for the customer.