Average is not good enough … Our goal at Family Investment Center is excellence. We find excellent investment products and supervise an excellent service package. We maintain a library of excellent research materials and financial planning resources. We also demand top safety and security for our clients.
We won’t settle for average. We continually seek top managers or securities and meld them into superior custom portfolios. Each palette of investments is carefully tailored to personal or family goals. We enlist excellent managers, research, resources, and effort for our clients. Don’t settle for average. You deserve excellence.
Please search our blog posts for answers to common investment questions, and we look forward to sharing our knowledge and experience with you first-hand.
Changes Are Coming … What Should You Know?
As the U.S. Department of Labor fiduciary rule moves closer into the spotlight, more investment firms are making changes to shift their service to a “nonconflicted” setting – meaning they will no longer charge commissions on products they sell to investors.
A few months prior to the Department of Labor rule, the White House released their own report outlining the millions of dollars in lost potential revenues investors could see if they receive conflicted advice in a commission-based setting. By the start of 2018, financial brokers who sell retirement products must become "fiduciaries" and act in clients' best interests, instead of choosing products that line brokers' own pockets. Some national entities are putting changes into place, now.
Recent headlines have outlined challenges with this process. What should you know?
1) Family Investment Center has always – and will always – operate in a commission-free, client-focused and nonconflicted setting. It’s how we have always believed your interests as an investor are best served. These changes nationwide mean business as usual for us.
2) Some firms will begin to use terms like “nonconflicted” and fee-only as they make the shift over to these models … but this doesn’t mean they have a genuine client-focused perspective.
3) National responses to the fiduciary rule will be varied. LPL Financial Holdings Inc., the largest independent broker dealerand registered investment advisor in the UnitedStates, is exploring a potential sale – according to an articlein Financial Advisor – as it lowers commissions on high-feeinvestment offerings and looks at higher regulatory costs. Inanother example, Merrill Lynch is among the first to institutechanges and stop its commission for its IRA business. This could trigger brokers who rely on commissions to go elsewhere – as well as push a surge of other giant firms to do the same.
We welcome any discussion or questions as the biggest shift in the investment industry has seen in decades begins to take shape … and we’re proud to say we’ve been helping families reach their goals in a nonconflicted setting since the first day we opened our doors.