William C Haney (moderator): Let's get straight to the point of this discussion. Is open architecture for structured products just an illusion, or is it inevitable?
Eric Glicksman: I obviously believe that open architecture for structured products is inevitable given my recent switch from the sell side to the buy side. I believe that open architecture is a competitive requirement for a wealth management firm. As you all know, there are now 50 structured products issuers in the US, and this in