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Don was quoted at Barron's on the conflicts that brokers have with product distribution and proprietary products.

"The SEC report gives the money managers the power to stand up and say 'no' to any kind of pay-to-play arrangement." One big problem: "There is no agency responsible for educating and training trustees, many of whom are political appointees or elected to their jobs, without enough expertise. So trustees must rely heavily on consultants to fill that education gap" creating the potential for abuse.

Continue reading at Barron's