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Brokerage Firms Adapt to New, Investment Adviser Duty, Reality
According to figures from Cerulli Associates, as of September 30, 2007, brokerage firms have moved $90 billion out of fee-based brokerage. Of that sum, $54 billion has moved to registered investment adviser accounts, while $35 billion has moved to commission-based accounts.
There remains approximately $188 billion to be moved to the one type of account or to the other.
Source: FT.com
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