Fidelity’s David Canter weighs in on the future of the broker protocol
The head of the custodian's RIA segment discusses Morgan Stanley's decision to exit the agreement and its larger repercussions for wirehouse brokers, independent advisers and investors.
Morgan Stanley’s recent decision to exit the Protocol for Broker Recruiting agreement has raised questions across the financial services industry about what comes next for financial advisers and their clients.
InvestmentNews spoke with David Canter, head of the RIA segment at Fidelity Clearing & Custody Solutions, for his unique perspective on how wirehouse brokers might adapt to the changes if and when more firms follow Morgan Stanley’s lead away from protocol agreements.
(Video: What’s Morgan Stanley’s rationale for exiting the Broker Protocol?)
From brokers still at wirehouses to independent registered investment advisers to investors, Mr. Canter details the impact of a move away from the broker protocol.
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