10 Influential Blogs for Financial Advisors – PRAGMATIC CAPITALISM<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"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. \u201cThose big firms are revenue-driven \u2013 they\u2019re fee generators. They\u2019re not … <\/p>\n
Continue reading “Conflict of interest: Will Wall Street put their interests ahead of their clients?”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[50],"tags":[783,1376,3635],"class_list":["post-7297","post","type-post","status-publish","format-standard","hentry","category-financial-planning","tag-conflict-of-interest","tag-financial-advisers","tag-wall-street"],"yoast_head":"\nConflict of interest: Will Wall Street put their interests ahead of their clients? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conflict of interest: Will Wall Street put their interests ahead of their clients? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"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. \u201cThose big firms are revenue-driven \u2013 they\u2019re fee generators. 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Elections are an expensive business and no candidate is likely to achieve re-election without financial backers, making them especially vulnerable to outside influence. The finance industry alone made $63 million in\u2026","rel":"","context":"In "The Big Picture"","block_context":{"text":"The Big Picture","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/the-big-picture\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7807,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/28\/congress-still-puts-out-for-wall-street-robert-scheer-truthdig\/","url_meta":{"origin":7297,"position":1},"title":"Congress Still Puts Out For Wall Street | Robert Scheer – Truthdig","author":"ColinTwiggs","date":"May 28, 2013","format":false,"excerpt":"Robert Scheer quotes Democrat Jim Hines on the corrupt relationship between Wall Street and Capitol Hill: \u201cI won\u2019t dispute for one second the problems of a system that demands immense amount of fund-raisers by its legislators,\u201d Jim Himes, a Democrat from Connecticut who supported the bankers\u2019 recent bills and conveniently\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/other\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13933,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/09\/asic-review-of-investment-banks-shows-poor-practice\/","url_meta":{"origin":7297,"position":2},"title":"ASIC review of investment banks shows poor practice","author":"ColinTwiggs","date":"August 9, 2016","format":false,"excerpt":"From Sarah Danckert: The ASIC review of investments banks found that not only do the heavyweights of Australia's financial system have difficulty in managing their conflicts of interest they also financially reward staff for potentially conflicted behaviour. .....So ugly is the result the Australian Securities and Investments Commission has warned\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7622,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/04\/30\/how-wall-street-defanged-dodd-frank-the-nation\/","url_meta":{"origin":7297,"position":3},"title":"How Wall Street Defanged Dodd-Frank | The Nation","author":"ColinTwiggs","date":"April 30, 2013","format":false,"excerpt":"Gary Rivlin gives us an insight into the machinations of Wall street lobbyists on Capitol Hill: As he prepared to sign the Dodd-Frank Wall Street Reform and Consumer Protection Act\u2014the sweeping legislative package designed to prevent another spectacular financial collapse\u2014into law, the president [Obama] first acknowledged the miracle of having\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10053,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/06\/22\/highly-unlikely-to-ever-see-a-storm-again\/","url_meta":{"origin":7297,"position":4},"title":"“Highly unlikely to ever see a Storm again”","author":"ColinTwiggs","date":"June 22, 2014","format":false,"excerpt":"Andrew Starke welcomes the latest proposed changes to Future of Financial Advice (FoFA) legislation in FINSIA News: Changes... outlined by the government on Friday have generally been well received, with many in the industry now hoping for final clarity on a process that has been running since the Labor Government\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1124,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/04\/follow-the-money-behind-europes-debt-crisis-lurks-another-giant-bailout-of-wall-street\/","url_meta":{"origin":7297,"position":5},"title":"Follow the Money: Behind Europe’s Debt Crisis Lurks Another Giant Bailout of Wall Street","author":"ColinTwiggs","date":"October 4, 2011","format":false,"excerpt":"A Greek (or Irish or Spanish or Italian or Portuguese) default would have roughly the same effect on our financial system as the implosion of Lehman Brothers in 2008. 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