Clients are mad as hell, and they're not going to take it anymore—unless the industry makes some changes. Speaking at the SIFMA Private Client Conference in Chicago recently, a chorus of executives including Stifel Chairman and CEO Ron Kruszewski, Merrill Lynch Wealth Management Head John Thiel and UBS Head of Wealth Management and Investment Solutions Robert Mulholland called for tougher industry standards.

Ron Kruszewski began his remarks with a clip of Peter Finch's famous monologue from the 1976 film Network. "I want you to get up right now and go to the window," Finch shouted. "Open it, and stick your head out and yell, 'I'm as mad as hell, and I'm not going to take this anymore!"

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