Customers and Clients- there is a Difference

A pretty good article in the WSJ describing some of the differences between advisers and brokers. Interestingly the writer using the words "selling us investment products" in the entry sentence which to me already indicates a broker versus an adviser. We often tell our clients that brokerage firms have no clients...they only have customers. Webster's says a client is "one under the protection of another". That is a long way from what customers get from sales organizations . As the article says, the distinction is "more than academic".