New Legislation For FAs and Here Come the Lobbyists

[Trooper]

I had heard that Washington was considering this a few months ago, but now it looks like more of a reality.

The article has a link to a TV ad which shows a couple, worried about their financial future, lamenting the fact that new legislation would prevent them from seeing their financial advisor. I agree with the author that they would be better off.

The is sponsored by "Americans to Protect Family Security".

Retirement firms, protecting their conflicts of interest, take to the airwaves - LA Times

 

[Walt34]

Well, if you're gonna lie to people, make it a whopper....

 

[powerplay]

Sounds like Anne may see a drop in her income from these new regulations if the clients' interest must come first.

 

[6miths]

From the article, "Labor Secretary Thomas Perez says that conflicts of interest in the retirement security industry cost IRA investors $17 billion a year."

Ouch, that's going to leave a mark.