Now that the regulatory reform bill has passed, advisors and wealth managers are waiting to find out how it will effect them. They know there will be change, but just how much, and how it will affect them personally, is the big unknown. One thing seems clear though - advisors at large wirehouses and smaller broker-dealers will be the most impacted.
The winners: larger independent broker-dealers such as Edward Jones, Raymond James, and LPL Financial, which can compete against the big wirehouses, said Doug Dannemiller, senior analyst at Aite Group, in an interview Wednesday.
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