On Wednesday, more than seventy-five businessmen and women arrived to Capitol Hill to make their case to regulators and other officials. There was little coverage of the event, other than a one-sentence Politico newsletter item claiming that this lobbyist-led trip was an example of a trade group “[hitting] the hill for small investors.”
But rather than going to bat for mom and pop retirees or other small investors, the day-long event on the hill was actually the latest salvo in a three year campaign by brokerage firms to block regulations that would ensure advisers to your 401(k) must work in your best financial interest, or in other words, as your fiduciary.The Financial Services Institue, a trade association for broker-dealers, organized the trip, which included representatives from Pershing, FSC Securities,TransAmerica, and other industy leaders.
this is another exampole of what ytou lose under a republican dynasty, those dreaded regulations, you know the ones that are actually watch your back and not stabbing you in it.
we heard all first term the gov't regulations takes away their freedoms, freedoms that allow them to disregard yours, they mysteriously left that part out. consumer regulation, your body gaurd against corporate hit men.
they told you somethging that was your best defense between you and the unscrupulous business practices was bad thing and had to be stiopped some of us were gullible enough to believe that elepohant dung,
progressive gov't is the gov't that isuppose to be, republican gov't is to the highest bidder.
While many Americans rely on 401(k) plans for their retirement, few are aware that their financial advisers are often working based on commission, and have no legal obligation to have their best interests in mind. The vast majority of 401(k) advisers, around 85 percent, are not actually fiduciaries. Critics say brokers often steer small investors into funds that may not be suitable, or are burdened by high an array of high fees.
don't be a potential horror story of before and after you got screwed on your 401k, regulations are your life force without them republicans and their big business employers will kill you and your life savings, when you're ready for retirement they are not ready to release your money because it now is their money, yours was lost do to bad investments. recognize and exercise 2014.
