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News October 10, 2005 Issue

Best Ex Not Just Lowest Commissions

During the Commission’s soft dollar open meeting last month (no, there’s still no sign of the release), Commissioner Paul Atkins emphasized that best execution involves more than seeking the lowest commission rate: "We must resist the temptation to focus solely on the lowest cost of trade as the best," he said. "As in all things, people don’t and should not necessarily buy on price alone."

Fiduciaries, added Atkins, should be "very careful" when spending their clients’ money.