Brian A. Carlis, Shareholder in Stark & Stark’s Securities Group, was quoted in the December 2, 2010 RIABiz.com article, First Command’s Marty Durbin retires — well after his scandalized IBD went RIA to rehab its image. The article discusses Martin Durbin’s recent retirement from First Command Financial Planning. Durbin is known for leading one of the more compelling conversions to the RIA model in the advisory world and some question if his departure would change the direction of the company, which is known for embracing the fiduciary standard.
Mr. Carlis states, “With an SEC-registered RIA firm, the disclosure regulations are substantial. But, there’s far more flexibility to sell different sorts of products in the RIA model, as long as disclosures are made.”
You can read the full article online here.