Wall Street is Broken

Greg Smith, Executive Director at Goldman Sachs, wrote an article yesterday in the NY Times where he explained why he is leaving the firm after 12 years.  http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?_r=1&hp=&pagewanted=print

This article is a perfect example of what is wrong with the traditional Wall Street brokerage model.  It does not look out for client interests first.

This is why Registered Investment Advisors are gaining in popularity while brokerages decline.  Registered Investment Advisors are Fiduciaries, which means they are legally obligated to act in the best interest of their client.  Do you want an advisor who looks out for your interests or their own?