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Some say a fraud.

‘Open architecture’ in a brokerage firm is a favorable and desirable platform to work from. Found more in nimble firms like Raymond James, only a few large wire houses offer financial advisors the capability of offering proprietary and non–propriety investment solutions in a single program. This is highly advantageous for investors because it offers more choices and, with that, more diversification.

However, of the few wirehouse firms that offer ‘open architecture,’ some TELL you they offer this feature but (in reality) fail to support the financial advisor throughout the entire ownership process; in effect, failing to deliver ‘open architecture’ at all.

Investment firms like to entice financial advisors to join them with this attractive catalogue item, when–in fact and in practice–it appears like a fraud.

Or at a minimum, a farce.

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Diversification and strategic asset allocation do not ensure a profit or protect against a loss. Investments are subject to market risk, including possible loss of principal. The process of re balancing may carry tax consequences.