Pottruck: Old School Brokers Not Keeping Up With Changing Street

Conflicts of interest are causing traditional brokers to lose advisers and customers, said David Pottruck, author of 'Stacking The Deck' and the former CEO of Charles Schwab.
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Conflicts of interest are causing traditional brokers to lose advisers and customers, said David Pottruck, author of 'Stacking The Deck' and the former CEO of Charles Schwab. Pottruck is currently Chairman of HighTower Advisors, an adviser-owned financial services company. He said HighTower's open architecture enables its financial advisers to offer a broad arrange of products in order to best suit a client's needs as opposed to ones where there may be conflicts. Pottruck said he wrote 'Stacking The Deck' because he did not see any books on change management written by operators, just academics and consultants.