FINRA Opens Comment Period On Compensation Disclosure Rule That Would Include Disclosing Signing Bonuses To Clients Hot

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Wirehouses are the primary FINRA firms who offer large signing bonuses to recruits to join their companies.
The bonuses are typically not disclosed and clients of the recruit are given some other explanation for the move.
FINRA feels the signing bonuses represent a conflict of interest and clients should be informed of the bonus incentives as well as all forms of broker compensation.
The new rule is also being viewed as a move toward treating brokers as fiduciaries, which brings to mind these questions:
Should brokers be treated as fiduciaries or should the traditional separation of services between brokers and advisors be restored?
Would the traditional broker model still have a place in today's environment?
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