And the Stock Market is up
What was it again that was responsible for the housing meltdown?
Bookmarked under WINNING
I am not sure about wisdom of DoddFrank repeal,but I have seen many people hurt by “financial advisors” from credit unions and insurance companies and what used to be community banks, who have a vested interest in specific investments, sell them with no regard for the client. A fiduciary rule seems reasonable and badly needed .
I’m thinking he should just disband the Consumer Financial Protection Bureau
ping!
The fiduciary rule was not well thought out. The SEC will probably keep some of the good parts, kill the bad parts and rewrite it.
I’ve been a licensed rep for 25 yrs.
This DOL rule really is just the effort of left wing politics to start their encroachment of the financial services industry. The end game was probably to eliminate the retail side of investment advice, and centralize it all for the mega institutions. Like all things govt, this is about MONEY AND POWER for the Govt.
Brokers are ALREADY required to act in the best interest of the clients. We are subject to FINRA rules and regulations, and any investor that feels duped/betrayed/misled by their broker has recourse through industry arbitration that is cheaper and better than civil action. To suggest otherwise, as these articles today state, is LAUGHABLE.
I went through a employment contract dispute with a former employer through FINRA arbitration. Very efficient and fair procedure. Everything that I’ve seen about industry arbitration indicates it is very fair to all parties involved.