Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Wednesday, May 21, 2014

Soft Dollar Payments and Payment for Order Flow

We have NEVER believed in "soft dollar" payments.  Never.

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?  

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