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Increased disclosure is one way that the brokerage firm can turn investor concerns about misdeeds into confidence, said Mark Sutton, chairman and CEO of UBS Wealth Management. "We're trying to anticipate client concerns in the future and vet them in advance," he said. "People read about and hear about [the issues brokerage firms are dealing with], and if we can address them proactively, that portrays the firm in a positive light."
UBS plans on revealing the exact compensation structures behind different investments and accounts as well as detailed explanations of the difference between discretionary and nondiscretionary accounts. The firm also details annual fees on an individual retirement account (IRA) and mutual fund and variable annuity sales commissions.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.