[taildragger]

"As a financial advisor and a money manager for 30 years I see this as creating chaos in the investment industry. This is a setup to begin the process of a government takeover of retirement accounts. After all, I also receive a commission if I recommend stock or bonds, not just funds. I also receive a management fee in lieu of commissions for certain accounts. This is a nightmare waiting to happen."

In essence, this forces you into either a fee-based or "Fee-Only" "NAPFA" model whether you want to or not. That is a moral decision or financial decision for you to do so. This is the heavy hand of Gov't. FORCING you into these models.

That P!$$es me off, taking away your choice of how you want to run your practice....

BTW...

You know although the deductibility is harder since it now has to cross the $2500 threshold, that the average Joe can already go seek independent advice for their 401k's. It could be done (not a recommendation) with a low price point with someone like "The Mutual Fund Store". But that raises a broader issue of our Colleges and Schools (NEA) producing a generation of Financial Dummies that are not taking charge of their own futures and being proactive to do so....

[IGOTMINE]

Fabian socialists, at it again. Bit by bit.

[Mouton]

Lock and load when they come for our savings accounts.