harley
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I saw this article in the Christian Science Monitor today - How Obama wants to help protect retirement investors - CSMonitor.com. It seems the President is proposing that brokers who advise clients on retirement investments follow a fiduciary standard of putting the client's financial well being ahead of their own. Revolutionary!
My favorite part is the response from industry -
My favorite part is the response from industry -
In my opinion this is something that should have been required all along, and I don't expect too much argument from the denizens of this forum. But since this is a political plan I'm sure there are catches there somewhere. It would be interesting to hear what the legitimate (non-greed driven) reasons there might be to oppose it."This re-proposal could make it harder to save for retirement by cutting access to affordable advice and limiting options for savers," said Ken Bentsen, president of the Securities Industry and Financial Markets Association, which represents banks and assets managers.