Session 4: Broker Protocol

Date/Time: 
05/05/2018 - 1:15pm to 05/05/2018 - 2:15pm
Room: 
Suite D

The fight between firms and departing brokers to retain a book of business is always a battle, and prior to the Broker Protocol, the firms almost always won, often to the detriment of the investor customer, who got caught in the middle of what amounts to a messy divorce. Recent developments, including the withdrawal by Morgan Stanley, UBS and Citibank from the Protocol, suggest that many of those battles between firm and financial adviser will get even messier. The Broker Protocol was started in 2004 with four major broker‐dealer firms, and is now endorsed by nearly 1,700 firms including many RIAs. This experienced panel will discuss the founding of the Protocol, how it impacted the industry, and how its downfall will affect advisers and clients for years to come.