Originally Posted by FinanceDude
Why does that matter? You cannot assume a Smith Barney guy knows more than an independent guy...........
. Actually, most indendent guys started out at wirehouses or regional brokerage firms..........
It is a data point, it might matter, it might not.
For example if one guy worked for a more popular insurance company and other was on his own, that might mean one thing, where as if one was with smith-barney and other was on his own that might mean less.
And some companies do fee only plans
where as others do fee only plans, AND manage assets AND sell loaded mutual funds. They get compensated one way or another, but depending on firm, they might only manage assets (so getting the plan would not happen from that firm).