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Financial Advisors AngeredIt didn’t take long for financial advisors to react to FINRA’s January 4 proposal to Regulatory Notice 13-02, which would require member firms to specifically disclose the financial incentives they give to the representatives they recruit.

And overall, the wirehouse advisors reaction was not a happy one! One rep shot back that a regulatory agency like FINRA “should keep its nose out of ”what reps are paid to move from one firm to another.” However, some fee based advisors look to the advantages of the proposal.

For the full reaction, pro and con, see the Advisorone.com article by Melanie Waddell on January 11. (Comments are due to FINRA on the proposal by March 5.