Fiduciary plans cause advisers to change to a fee-based service

07/17/2011 | InvestmentNews (free registration)

More advisers are starting to offer fee-based services as the Securities and Exchange Commission readies a universal fiduciary standard for investment advice, according to Morgan Stanley Smith Barney Vice Chairman Charles Johnston. The trend has increased over the past six months as advisers look for a "more stable regulatory environment" under the Investment Advisers Act, he said.

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