PDA

View Full Version : It continues, sadly....


frugal-one
2-3-17, 7:45pm
Halting or stopping the rule that requires financial professionals who charge commissions to put their clients' best interests first when giving advice +++ read....

https://finance.yahoo.com/news/trump-halt-obama-fiduciary-rule-063803815.html

Found this a few places... Asked to step down because of her criticism of Trump....

http://www.staradvertiser.com/2017/02/01/breaking-news/hawaii-rep-beth-fukumoto-leaving-the-republican-party/
iris lilies
2-3-17, 8:19pm
Halting or stopping the rule that requires financial professionals who charge commissions to put their clients' best interests first when giving advice +++ read....

https://finance.yahoo.com/news/trump-halt-obama-fiduciary-rule-063803815.html

Found this a few places... Asked to step down because of her criticism of Trump....

http://www.staradvertiser.com/2017/02/01/breaking-news/hawaii-rep-beth-fukumoto-leaving-the-republican-party/
The rule is stupid.
freshstart
2-3-17, 8:53pm
why is the rule stupid? I thought it was good for protecting investors
gimmethesimplelife
2-4-17, 12:00am
why is the rule stupid? I thought it was good for protecting investorsI agree with you, Freshstart. Rob
creaker
2-4-17, 10:25am
why is the rule stupid? I thought it was good for protecting investors

It's not just putting client's best interests first - it's also making your clients equal. There have been incidents of improving the returns of high worth customers on the backs of the not so high worth customers.
iris lilies
2-4-17, 11:49am
why is the rule stupid? I thought it was good for protecting investors
I am not infavor of more nannyish nannyism. I tire of Namny G trying to save me from myself.
frugal-one
2-4-17, 11:52am
I am not infavor of more nannyish nannyism. I tire of Namny G trying to save me from myself.

Many people may not be a savvy as you and do not understand financial jargon. I believe the law made it possible for people to understand the information and also to promote "advisors" to look out for the interest of the investor ... not just themselves. So, I don't see how this is a bad thing????
CathyA
2-4-17, 12:00pm
I am not infavor of more nannyish nannyism. I tire of Namny G trying to save me from myself.

Maybe you and some of us would be fine, but there's a lot of people out there who are unable to be fine on their own. Its like children......how do they do with no parental controls? In a perfect world, we wouldn't need government for anything but organization, I suppose. But there are too many people out there who wouldn't have a clue how to behave in a civilized manner, or make reasonable judgements without some guidance. I guess the question is how much guidance do we need? Unfortunately this country (or any country) is a one size fits all thing. Even with many of our laws, they aren't obeyed.
catherine
2-4-17, 12:39pm
When people have to make their living exploiting what they can, I don't think it's unreasonable to try to protect those who may fall prey. I'm not saying everyone is a victim, but we can't always predict the wiles of people more interested in themselves than the people they are supposedly serving. People who knowingly profit from the ignorance of others are thieves, and I think reasonable consumer protection laws are appropriate.
sweetana3
2-4-17, 12:45pm
History has given us numerous reasons for this protection and many others and we have forgotten. History continues to repeat itself.
CathyA
2-4-17, 12:48pm
Yes, catherine and sweetana!
freshstart
2-4-17, 1:30pm
When people have to make their living exploiting what they can, I don't think it's unreasonable to try to protect those who may fall prey. I'm not saying everyone is a victim, but we can't always predict the wiles of people more interested in themselves than the people they are supposedly serving. People who knowingly profit from the ignorance of others are thieves, and I think reasonable consumer protection laws are appropriate.

I agree with this. Especially after what happened in '08.