Wealth management firms say they have always promoted transparency and the elimination of conflicts of interest, regardless of regulatory requirements, On Wall Street contributing writer Paul Hechinger writes in his cover story on how advisors and the industry are tackling compliance in an era of increasing regulation.
While it may sound like the company line for some, there is research to suggest that increasing transparency may go a long way toward boosting an advisor’s business. Cerulli Associates last month released research that found 62% of high-net-worth clients with at least $5 million of investable assets cite transparency as an “extremely important” differentiator in choosing a primary advisor.
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