Broker Dealers Are Extinct. They Just Don’t Have Enough Sense to Die.

What if some of the biggest drags on a retirement portfolio are not obvious market losses, but outdated structures, hidden costs and advice that was built for a different era? In this episode, Mark Falter takes a blunt look at the differences between broker-dealers and fiduciary advisors, making the case for why many investors should better understand how their portfolios are built, what they are paying and whether those investments still fit the job they need done. He also breaks down the practical differences between mutual funds and ETFs, including cost, tax efficiency and flexibility, while reinforcing the broader point that retirement investing requires a different mindset than accumulation. If your portfolio still reflects yesterday’s advice, it may be time to question the costs, the structure and who is really steering the plan.