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DJT to allow Investment Advisors to Hide Ulterior Motives
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Tom in Lazybrook Offline
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DJT to allow Investment Advisors to Hide Ulterior Motives
A new regulation, set to go into effect in April, will require investment advisors handling retirement accounts to put their clients, rather than their own, interests' first.

Trump reportedly will axe that.

Swampity, swamp, swamp.
01-19-2017 10:24 PM
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Pyrizzo Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
Linky?
01-19-2017 10:41 PM
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gdunn Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

It's in all the local papers in Wyoming.....
01-19-2017 10:42 PM
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Pyrizzo Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:42 PM)gdunn Wrote:  
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

It's in all the local papers in Wyoming.....

Linky?
01-19-2017 10:43 PM
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gdunn Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:43 PM)Pyrizzo Wrote:  
(01-19-2017 10:42 PM)gdunn Wrote:  
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

It's in all the local papers in Wyoming.....

Linky?

My post was total sarcasm.
01-19-2017 10:44 PM
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UTSAMarineVet09 Offline
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DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:42 PM)gdunn Wrote:  
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

It's in all the local papers in Wyoming.....


Heard the Russians did it


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01-19-2017 10:59 PM
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gdunn Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:59 PM)UTSAMarineVet09 Wrote:  
(01-19-2017 10:42 PM)gdunn Wrote:  
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

It's in all the local papers in Wyoming.....


Heard the Russians did it


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Daaaayuuummmm
01-19-2017 11:00 PM
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SuperFlyBCat Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:24 PM)Tom in Lazybrook Wrote:  A new regulation, set to go into effect in April, will require investment advisors handling retirement accounts to put their clients, rather than their own, interests' first.

Trump reportedly will axe that.

Swampity, swamp, swamp.

03-drunk03-drunk03-drunk03-drunk03-drunk03-drunk03-drunk
01-19-2017 11:00 PM
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Bull_Is_Back Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

He's not quick to give them because usually all the facts laid out show what a shill he can be.
01-19-2017 11:23 PM
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gdunn Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 11:23 PM)Bull_Is_Back Wrote:  
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

He's not quick to give them because usually all the facts laid out show what a shill he can be.

Or it's all in his rabbit ass mind.
01-19-2017 11:24 PM
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ETSUfan1 Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
There is going to be a major tissue shortage in this country within the next 4 years.
01-19-2017 11:30 PM
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ODUsmitty Offline
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Post: #12
RE: DJT to allow Investment Advisors to Hide Ulterior Motives
But without this new regulation signed into law, the Alphabet community will be targeted mercilessly and will be denied fair investment advice available to the cis population.
01-19-2017 11:33 PM
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Tom in Lazybrook Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
01-20-2017 12:16 AM
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Bull_Is_Back Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
Quote:Among Trump’s first acts as president Friday may be an order to federal agencies to temporarily cease ongoing rule-making initiatives, these people said. That would mirror steps taken by previous presidents entering the White House as one from the opposing political party leaves.

....

A top target: new rules shaking up the multitrillion-dollar retirement-savings industry, due to take effect in April. The Trump administration is eyeing a possible six-month delay for the so-called fiduciary rule, these people said — a move that could give Congress time to revoke the regulation with legislation.


As usual the more people read about one of your rants the more obvious it is that you're unhinged.

Here is what's getting delayed by 6 months...

The Department of Labor Fiduciary Rule is a new ruling, scheduled to be phased in April 10, 2017 – Jan. 1, 2018, that expands the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA). This sweeping legislation (1,023 pages in length) will automatically elevate all financial professionals who work with retirement plans or provide retirement planning advice to the level of a fiduciary, bound legally and ethically to meet the standards of that status. While the new rules are likely to have at least some impact on all financial advisors, it is expected that those who work on commission, such as brokers and insurance agents, will be impacted the most.

...

"Suitability" meant that as long as an investment recommendation met a client's defined need and objective, it was deemed appropriate. Now, financial professionals are legally obligated to put their client’s best interests first rather than simply finding “suitable” investments. The new rule could therefore eliminate many commission structures that govern the industry.

...

While the best interest contract exemptions would permit broker-dealers and insurance companies to provide plan participants with fiduciary advice while still receiving commissions, many professionals fear the conflict-of-interest yardstick would essentially eliminate commissions. This in turn would force financial advisors to create or shift fees onto individuals, and could price many middle- and lower-market investors out of the market, they argue.
01-20-2017 12:43 AM
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Tom in Lazybrook Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-20-2017 12:43 AM)Bull_Is_Back Wrote:  
Quote:Among Trump’s first acts as president Friday may be an order to federal agencies to temporarily cease ongoing rule-making initiatives, these people said. That would mirror steps taken by previous presidents entering the White House as one from the opposing political party leaves.

....

A top target: new rules shaking up the multitrillion-dollar retirement-savings industry, due to take effect in April. The Trump administration is eyeing a possible six-month delay for the so-called fiduciary rule, these people said — a move that could give Congress time to revoke the regulation with legislation.


As usual the more people read about one of your rants the more obvious it is that you're unhinged.

Here is what's getting delayed by 6 months...

The Department of Labor Fiduciary Rule is a new ruling, scheduled to be phased in April 10, 2017 – Jan. 1, 2018, that expands the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA). This sweeping legislation (1,023 pages in length) will automatically elevate all financial professionals who work with retirement plans or provide retirement planning advice to the level of a fiduciary, bound legally and ethically to meet the standards of that status. While the new rules are likely to have at least some impact on all financial advisors, it is expected that those who work on commission, such as brokers and insurance agents, will be impacted the most.

...

"Suitability" meant that as long as an investment recommendation met a client's defined need and objective, it was deemed appropriate. Now, financial professionals are legally obligated to put their client’s best interests first rather than simply finding “suitable” investments. The new rule could therefore eliminate many commission structures that govern the industry.

...

While the best interest contract exemptions would permit broker-dealers and insurance companies to provide plan participants with fiduciary advice while still receiving commissions, many professionals fear the conflict-of-interest yardstick would essentially eliminate commissions. This in turn would force financial advisors to create or shift fees onto individuals, and could price many middle- and lower-market investors out of the market, they argue.

If you're earning a commission off your clients money and you aren't a fiduciary....then that's a problem.

BTW, my investment advisors are completely fine with this rule. But of course I'm sophisticated enough to demand that they be fiduciaries.

If what you want to protect is an advisor putting a client in worse investments simply because he/she makes more money off of them....then that's BS IMHO. Or putting someone in a sh*tty annuity (are there any other kind of annuity other than a sh*ty one?) or bad insurance policy because their agent is a greedy jerk (who probably isn't disclosing fully or prominently enough his motivations) or because the seller can't get licensed to peddle anything other than insurance and annuities?

It won't price people out of the investment market, but over to Scottrade.
(This post was last modified: 01-20-2017 01:53 AM by Tom in Lazybrook.)
01-20-2017 01:48 AM
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Bull_Is_Back Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-20-2017 01:48 AM)Tom in Lazybrook Wrote:  If you're earning a commission off your clients money and you aren't a fiduciary....then that's a problem.

Saying it does not make it so... Eliminating Commissions will push people out of the market.

Quote:BTW, my investment advisors are completely fine with this rule. But of course I'm sophisticated enough to demand that they be fiduciaries.

Good for you. We're not all as rich as you are so maybe you should check your privlidge.

But you're getting away from something here....

Your title is deceptive. Trump is proosing a six delay to a proposed Obama Rule and this is something most presidents do when they come into office, taking over from another party.
(This post was last modified: 01-20-2017 02:16 AM by Bull_Is_Back.)
01-20-2017 02:14 AM
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ericsrevenge76 Away
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
slow day
01-20-2017 02:40 AM
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JMUDunk Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 11:23 PM)Bull_Is_Back Wrote:  
(01-19-2017 10:41 PM)Pyrizzo Wrote:  Linky?

He's not quick to give them because usually all the facts laid out show what a shill he can be.

Did you just say "usually"?!?

har har
01-20-2017 03:15 AM
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gdunn Offline
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-20-2017 12:16 AM)Tom in Lazybrook Wrote:  http://www.marketwatch.com/story/trump-l...2017-01-19

So no link to your claim in the OP...
01-20-2017 07:04 AM
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RE: DJT to allow Investment Advisors to Hide Ulterior Motives
(01-19-2017 10:24 PM)Tom in Lazybrook Wrote:  A new regulation, set to go into effect in April, will require investment advisors handling retirement accounts to put their clients, rather than their own, interests' first.

Trump reportedly will axe that.

Swampity, swamp, swamp.

Going to spike it all day and for many days to come.

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01-20-2017 07:12 AM
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