Wednesday, May 09, 2007

Battle of the polls! FPA vs. SIFMA

It's a battle of the surveys! The FPA vs. SIFMA.

In late April, the FPA, the Zero Alpha Group and the Consumer Federation of America released an investor poll showing that 92% of investors believe the same rules should apply to both stockbrokers and financial planners when they offer the same kind of services.

Not to be outdone, SIFMA conducted its own poll in early May, and today released the results.

Maybe it's just me, but isn't this question SIFMA asked investors a bit loaded?:

When asked to weigh two different environments, "higher fees, fewer types of investment accounts and more customer protection” [advisory accounts] against "a range of fee choices and more types of accounts with different customer protections, [fee-based brokerage accounts]” SIFMA found that most prefer more choice and lower fees.