Larry Tabb says he’s happy that Merrill Lynch is going after younger, less-affluent clients, but it may be too late – the firm may have missed its opportunity 20 years ago when it fired its less-affluent clients to focus on older money, he notes in his latest weekly rant. In addition, Tabb discusses the impact of the SEC’s decision to approve an actively traded, non-transparent ETF; the new vehicles could pose a significant threat the traditional mutual fund business, he says.
Source: TABB TV
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