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Re: TRUMP REVERSING FIDUCIARY RULE - SO MUCH FOR CONSUMER PROTECTION

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This is a link to where AARP lists their organizations in each state: "AARP in Your State". Look for your state & see what they have online, and you can call up & suggest a basic investment program.

 

AARP would much rather lobby for what they think we all want, instead of educating us so we don't need to be treated like old fools protected by the government .. and charged a fortune for it!


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Re: TRUMP REVERSING FIDUCIARY RULE - SO MUCH FOR CONSUMER PROTECTION

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I like that!  How do we find out more?

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Re: TRUMP REVERSING FIDUCIARY RULE - SO MUCH FOR CONSUMER PROTECTION

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@greent1 - Good idea; maybe senior centers could get speakers in for a series of "Investing 101" programs. AARP has their Tax Aide program; maybe they could have speakers bureau to supply presenters to seniors' organizations that want guidance.


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Yes, just when we thought there was hope for the little guy a big thumb comes down on him.  We have to try to slog through this and help each other.  Forums like this can only help.  We have to reach out to fellow seniors -- maybe form investment clubs?  Ask our public libraries to have discussion groups about safe investing?  

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Did you fully understand the onorous costs to investors of that fiduciary rule?

 

I work with brokers/advisors I trust, or I wouldn't work with them. My investing style is primarily "buy & hold", with minimal trading. The way that fiduciary rule worked, brokerages would make all IRAs "managed accounts", where they could charge in the 1% - 2% range, on the value of your account .. even if you were just holding on to blue chip stock & bonds. So if someone has an IRA worth $1 million, it would now cost them $10,000 - $20,000 annually as a "managed account" .. even if there was minimal review & they didn't have a single transaction in the year!

 

Thankfully, many brokerages were already planning to offer clients waivers, where they could just continue to pay commission for transactions they actually made.


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TRUMP REVERSING FIDUCIARY RULE - SO MUCH FOR CONSUMER PROTECTION

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Trump Moves to Roll Back Obama-Era Financial Regulations

from the New York Times

 

https://www.nytimes.com/2017/02/03/business/dealbook/trump-congress-financial-regulations.html

 

 

 

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