The extent to which this self-serving behavior exists in practice is subject to debate. Because a lot turns on this distinction. Securities and Exchange Commission. For many, the broker-dealer relationship is the better choice, and, for many, the investment adviser relationship is the better choice. The technologies deployed to improve these processes are mature, and the technology-leader cost penalties are correspondingly diminishing. Improvements in client experience can be achieved through development of technology, processes, and people, depending on the existing strengths of the firm. For example, there are limits on the amount broker-dealers can charge you, and they are subject to FINRA inspections and enforcement.