Paul Killik: The FSA is killing advisory stockbroking - Citywire
When I asked Hector what the RDR was all about he said "we thought if we raised standards everyone could become stockbrokers".
Is Mr Killick telling me that the regulator is on the wrong path to Valhalla?
Personally I wonder how a percentage of the sale of stocks is any different to any other form of commission, if the stockbroker advises the client to do nothing he doesn't earn any money, does he? It therfore follows that the cap does fit, you are indeed in the same box which is becoming more spacious by the week. Some might say that is what you get for being so full of self-interest, so blinkered, so short-sighted.
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