• Tim Holt

    Since we already are required to do what is right for our clients, and we wouldn’t keep them if we didn’t, the rule is an insult to us. Now, RIA’s and large wire houses who will benefit from advisors cramming clients in fee based investments, even if there is a cheaper option in a commission chassy will be the only one who are upset because they got greedy and think the advisor is a step that can be passed up with their robot systems.

  • John Grund

    Nice one-sided article. State Statutes already address suitability rigorously. I don’t believe stacking governmental duplicities solves anything.

  • Wolf Barone

    The Fiduciary Rule is a Red Herring. The DOL has no Enforcement Capabilities except Class Action Lawsuits. The reason for the Rule is to push as many Individuals as possible to Putting 401(k)’s and MyRA’s with the Federal Government to give the Fed’s the ability to use the money to sure up the National Debt. Social Security, the Federal Pension Plan and the US Postal Service Pension have all been used by the Government as their own Private Piggy Bank, now the Socialists want the rest of American’s Pensions and IRA’s available as well. The Congress can end this anytime it wants. Making Business Owners Fiduciaries is ridiculous and it does not take 1027 pages to explain one sentence, “Do what’s in the best interest of the client.” On top of all the costs associated with more regulation it will cost more money to the Consumer. The reason Trump was elected is the American People are tired of being regulated to Death and the DOL Fiduciary Rule is just the last effort of Socialists to screw Americans out of their Retirement for the Good of the State. This rule should be under the auspices of the SEC so there is enforcement capability, not the DOL and giving more power to Attorneys, it’s more than overdue to rein in the Attorneys, wasn’t that a Republican Mantra, but aren’t many in Congress Attorneys? Drain the Swamp, Trump needs to keep his promises and so do the Republicans who promised Attorney Reforms.