HighTower Whiteboard Animation: Brokers vs. Fiduciaries

Investors are taking a hard look at the people managing their money. Elliot S. Weissbluth, the CEO of HighTower, has been a visionary on this issue for over a decade. In this whiteboard video, Elliot cleverly explains the difference between brokers and fiduciaries and sheds light on the issues surrounding the industry.
http://hightoweradvisors.com/
Securities offered through HighTower Securities, LLC, Member FINRA/SIPC/MSRB, HighTower Advisors, LLC is a SEC registered investment adviser.

• Category

  Film & Animation

[Drew Wilkins]

It's nice to see an important concept explained in a simple and entertaining way. Our family moved our money to HighTower a while ago for exactly this reason. We're glad we did.

[DrHWWolfson]

Amazingly simple, quick, to the point and accurate...kudos to all those involved!



[Aayush Patodia]

nice one

[BladeJones]

One thing to beware of is that legally brokers can call themselves anything they want... "investment adviser", "financial planner", "wealth manager", "president", etc. Less than 10% of all of them are actually fiduciaries. You want a "fee-only" and "fiduciary" adviser. Make sure you pay them and they sign a contract with you. The other 90% will sell you expensive, "actively managed" mutual funds instead of ETF's. They'll sell you annuities, life settlement investments, limited partnerships, etc.

[iainwish]

As a UK fee based CFP and Chartered Financial Planner I must say this is excellent work. We go so far as to say 'we don't want to do all this for you so have to come back and sell you something'.

The majority of UK financial advisers (rather than planners) still need to flog you the meat to survive. Most of the big UK banks target their advisers to sell different types of meat - meaning that even if the end customer does not need meat they will be sold it!

[FullServieRealtor]

Unfair to the Realtors in California because we DO have a fudiciary responsibility to our clients...lenders in our state do not, investment brokers do not...but we have a definite fudicary responsibility. True it sadly seems that some agents & brokers think this is a rule on the books but not followed; a law with a "Wink, wink" attached...but this is the same crowd that feels any code, rule or law can be broken because "everybody is doing it".

[marianfinancial]

Such a great video! I had to share this with my followers as well, thanks for the great synapsis.

[Iain Crawford]

In the UK "fiduciaries" = fee-based independent financial planners and "brokers" = the banks and commission-based financial advisers.

[david simms]

amazing video. Who created this? I see the same video on Jennifer Connelly Public Relations? Were they involved with this project? Is that the same as the actress, Jennifer Connelly?

[Mark Zamiara]

Great Job!!

[Richard Stott]

Fantastic!