"[A] world without commissions is not necessarily the death knell for advisors, as the reality is that the non-commissioned RIA segment of advisors has already been experiencing the greatest growth in recent years, and even the majority of brokers have indicated that they think it is reasonable to be required to give advice in the best interests of their clients. However, the ongoing evolutionary shift of 'financial advisors' from securities product salespeople to actual advisors is creating an existential crisis for broker-dealers -- after all, in a future fiduciary world where advisors are paid directly by their clients for advice, what is the purpose or need for a broker-dealer intermediary at all?"  MORE >>