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?
CEO of the Parisian Family Office. Retired/Founder of CHIPPEWA PARTNERS, Native American Advisors, Inc., Registered Investment Advisor. White Earth Chippewa, educated conservative, raised on Indian reservations across Great Plains. Began Wall Street career in 1982. Always been, will always be, an optimist. Pureblood, clot-shot free. In a world on a dopamine binge, this is his take on life. Written at MT Ghost Ranch or Pamelot, TN farm or his winter camp in San Jose del Cabo, Mexico.
Wednesday, May 21, 2014
Soft Dollar Payments and Payment for Order Flow
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