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Will your overrides and fees be changing soon?

When did the broker-dealers in the industry lose sight that you are their client?   When I first began in this industry 20-years ago, most, if not all broker-dealers understood that they had to earn their client’s business each and every day.  Broker-dealers had to be innovating constantly to bring more enhanced programs, platforms, and services to show you, as their client, the value they bring as your broker-dealer partner.

We cannot escape the fact that costs for broker-dealers to remain up to speed from a regulatory standpoint continue to rise.  Also, they need to compete from a technological standpoint as well to remain profitable in this ever-consolidating marketplace.  However, many broker-dealers have lost sight of what has made them successful, which is you as their client.  Let’s take a step back to see why.

  • This IS an ever-consolidating industry. We have seen more acquisitions of broker-dealers in the last 5-years than we have in the history of the financial services industry.  This pattern will only continue as broker-dealers have found it difficult to remain relevant, to remain in compliance of the regulatory environment and stay competitive from a technology standpoint.  However, many broker-dealers have shifted focus from providing services to you as their client to more focused on growth by adding new advisors.

    While I strongly believe that there can be a balance of both, I don’t agree with the substantial upfront checks many of these broker-dealers are offering to new advisors.  While their checks may be generous, they do not seem to be providing any additional services, programs, or platforms to you, their long-standing client.

  • Many broker-dealers over the last 5+ years have continued to raise fees, reduce payouts, and scale back services to you as their clients.  While not all broker-dealers have done this, a good majority have.  As a financial services professional for 20-years, I ask myself why broker-dealers feel the need to raise fees and/or reduce payouts, but do not bring greater value to you as their client.  In my opinion, if a broker-dealer is raising their fees or reducing payouts, it may be fine as long as they can justify this by showcasing new added value to you as their client.

I am certain we all agree that broker-dealers have to remain profitable to stay in business.  The question is, when did it become such a one-sided formula where they have to remain profitable, but as you grow you don’t see the fruits of your labor through increased payouts and fee reductions?

At Trusted Visions Placement and Consulting, we have built a 20-year reputation of acting with the highest level of integrity and ethics.  For that reason, we have made the business decision to only partner with the top tier broker-dealers in the industry.  We have carefully examined each broker-dealer we partner with to ensure we understand their long-term vision and ability to bring value to you as their client.

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Trusted Visions Placement & Consulting

(346) 703-3070