You bet they will. Here Cullen Roche explains why he quit Wall Street to become an independent advisor:
One of the reasons Roche transitioned to becoming an independent advisor was because of [the] perceived conflict of interest that exists at big Wall Street firms. “Those big firms are revenue-driven – they’re fee generators. They’re not able to do what’s in their clients’ best interest – a lot of the time the best interest of the client is to reduce fees,” he notes. According to Roche, the financial advisor model needs to change, with more and more advisors needing to act as independent consultants or fee-only advisors. “I think the conflict comes mostly from the big wirehouses: public companies that need to maximize profits – profits largely derived from generating fees from clients,” he concludes.