No. of Recommendations: 2
I think it is understandable that an industry that depends on fees for services and commissions is very concerned about any changes that might impact their income and employment. Yes, we need to be careful.

Still I think we realize that 3% to fees in the days of 30% stock market returns and 10% interest rates were not very significant. But low interest rates and moderate returns squeezes those margins. They are now much more visible, and the industry does need to adapt to the new reality.

You would think the quality service providers would support means that would drive out the worst offenders. Customers should realize that one way or another they will pay for the services of the people who help them. Those fees should not be hidden.

And why would a professional salesman sell a product that he knows under performs or is not competitive with the market? Let's drive bad products out of the market and give the salesman incentives to sell quality products.
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