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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: geoffrey Wren who wrote (215)11/26/1996 11:07:00 AM
From: Reginald Middleton   of 308
 
< Hopefully this odious practice will be outlawed soon, as it means the broker's own best interest may be contrary to the investors.>

The broker's best interests are contrary to that of the investor by default in the most common situation. Brokers are compensated by sales and purchases, and not by performance. The only way to align the interests of brokers and thier clients is to implement a meritorious compensation system, which is in direct contravention to the precepts of the commissionable transaction as is currently implemented in the majority of situations and has practically nothing to do with performance. As an ex-broker, rest assured, many brokers would resist such a situation, for they are much better salesman than they are money managers and advisors

RCM
rcmfinancial.com
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