Sniffed Links - Free Steak

After almost 16 years in the industry I find it hard to believe “sales contests” still exist. In an era where a standardized Fiduciary Rule is imminent it is still a common practice for companies to offer sales contests for certain products. Yes these conflicts of interests are disclosed somewhere in the paperwork their clients sign but this is still crazy. If the SEC fixes this then they should also stop the steak dinners wholesalers do for advisors on a regular basis. Free steak and free wine is a conflict of interest.

SEC's Clayton Says Sales Contests Must Die | ThinkAdvisor

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