If you worked in the industry you would know Obungo’s Fiduciary Rule was bad from the start, limited choices for investors, drove up costs, would trigger more lawsuits, smaller clients would not be served properly, and now everyone would have a Stalinesque commissar’s one size fit’s all type mentality. In the pencil pusher’s world this works perfectly, in the trenches it does not. I’m a CFP and have worked in this industry for over 25 years helping thousands of people over that time. Those who don’t work in this industry truly don’t know what they’re talking about. Getting rid of the mandatory fiduciary rule is removing excess regulations and is DEFINITELY a positive thing for consumers as well as the financial services industry.
Like the one against Vanguard for high cost? Yes, people don't get the industry, it is a completely different perspective on the other side of the desk. On Obama's rules, I hear compliance cost are off the Richter Scale. Love you feedback on the that last point.
Thank you all for taking the time to reply and explain. I think I get it, but will have to mull it over a while.
Have a Blessed day, Litany.