[taildragger]

The a White House is proposing to shut out private investment councillors from managing personal 401Ks by putting an additional 15% tax on accounts that are managed by an investment councilor if you keep the same one that you used before retirement.It was in the WSJ last week.

Who's brain fart is this? What if you are using a SEP-IRA for your 401k as lets say a high end attorney and you retire and want to use the same firm before and after retirement you can't? What about that relationship? It is a relationship business! You mean you have to change because they say so? Where is this in the Investment Advisory Act of 1934? Yes Dodd-Frank-FINRA what a flippin' mess... Un-Freakin-Believeable...

[Eva]

Oh, you can continue to use the same advisor, but you will pay 15% sur charge to the government .

I don’t think that it applies to people who are already retired.