Parisian Family Office, CEO. Began Wall Street, 1982. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Active Trader. White Earth Chippewa Tribal member. Was NYSE/FINRA arb. Conservative, raised on Great Plains reservations. Pureblood, clot-shot free. In a world elevated on a dopamine binge, this is his take! Written from MT Ghost Ranch on the Yellowstone River, TN farm Pamelot or San Jose del Cabo, Mexico, CASA TULE'. Always been, will always be, an optimist.
Wednesday, May 21, 2014
Soft Dollar Payments and Payment for Order Flow
Commissions are paid to brokerage firms out of clients assets. For THEIR benefit, not ours.
If we need research, conferences, phones, rent and fancy lunches we pay for them ourselves, not with excessive trading with clients assets.
Wall Street is still controlled by the political elite which is funded by Wall Street itself.
In the same vein, why would we want to do business with asset custodians who "sell" order flow to the highest bidder to the detriment of market structure?