Robert Miller isn't a typical member of the National Association of Insurance and Financial Advisors His firm, Miller-Pomerantz and Associates, is located in the New York financial district near Zuccotti Park and in the same building as the Securities Industry and Financial Markets Association. His clientele in large part comprises Wall Street bankers and New York lawyers.
Yet as the organization's president, Mr. Miller, 57, maintains that the vast majority of NAIFA's 50,000 members operate small businesses in small towns. In his narrative, they are part of middle America, building relationships and serving middle-income clients.
Mr. Miller hopes to persuade the Securities and Exchange Commission not to impose a type of fiduciary-duty standard on NAIFA's registered representatives that he contends would force them to abandon the commission-based business model that thrives under the suitability standard.
Perhaps it is a good thing that the tall, lanky Mr. Miller laughs easily. He will need his sense of humor over the next year that he serves as NAIFA's president.
Mr. Miller is heading a group that is accused by advocates of being the primary obstacle to a universal fiduciary-duty standard of care.
NEWS BY:http://www.investmentnews.com/article/20111127/REG/311279987
Yet as the organization's president, Mr. Miller, 57, maintains that the vast majority of NAIFA's 50,000 members operate small businesses in small towns. In his narrative, they are part of middle America, building relationships and serving middle-income clients.
Mr. Miller hopes to persuade the Securities and Exchange Commission not to impose a type of fiduciary-duty standard on NAIFA's registered representatives that he contends would force them to abandon the commission-based business model that thrives under the suitability standard.
Perhaps it is a good thing that the tall, lanky Mr. Miller laughs easily. He will need his sense of humor over the next year that he serves as NAIFA's president.
Mr. Miller is heading a group that is accused by advocates of being the primary obstacle to a universal fiduciary-duty standard of care.
NEWS BY:http://www.investmentnews.com/article/20111127/REG/311279987
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