Personally, I favour allowing the character to choose a place in sequence anywhere up to his earliest possible time to act.
I find some support for this in the rules, though interpretation is involved.
Page B363 says rather plainly, under Turn Sequence, that you go in order of speed, period.
However, under "Your Turn" it notes that your turn:
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"overlaps the turns of other characters".
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Further, on page B17 it says:
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"Basic Speed ... helps determine ... the order in which you act in combat (a high Basic Speed will let you "out-react" your foes)."
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Help determine, not determine.
Let, not make.
Out-react, not move before.
So that's the textual analysis. But also my personal practicality analysis tells me it doesn't make much sense to insist that a quick warrior can't wait on the actions of a slower ally, especially in a structure where their 'turns overlap'.