UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75831  
Subject: HR-2374. Delays adviser fiduciary responsibiity Date: 11/4/2013 1:29 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
My newspaper reported today that last week the House voted to pass HR-2374 254-166, which would delay new rules requiring investor advisers to act a fiduciaries for their clients. In essence this would discourage advisers promoting investments that are most profitable to themselves rather than to the benefit of their clients.

Given the need for more of us to fund our own retirement with investments in IRA or 401ks, and all the stories of people who were misadvised or put into costly or underperforming investments, fiduciary responsibility sounds like a good idea.

My Congresswoman, Ann Wagner (who replaced Todd Akin) was one of the sponsors of the bill.

A search turned up this op-ed--

http://wagner.house.gov/media-center/in-the-news/stl-busines...

Needless to say, the financial community is strongly opposed to fiduciary requirements.

I am surprised that this law gets so little news attention.

Now it goes to the Senate.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Apple

The Saddest Place on iPhone Day
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement