The woman who runs the nation's largest RIA firm, Maria Elena Lagomasino, doesn't have much faith in the non-fiduciary side of her industry. In fact, she says an unfortunate number of planners at large banks and brokerage houses run their businesses to benefit themselves as much – or more than – their clients.
Over the past three decades, a tremendous amount of wealth nationwide has been transferred from families to the advisors who were supposed to be helping them, says Lagomasino, CEO of the country’s largest RIA, Palm Beach Gardens, Fla.-based GenSpring Family Offices.
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