I'm not an economist, so, how does this help the average American? How does this go toward making America great again?

2017-02-06T04:04:11-05:00

Response by Austin Hocutt made Feb 6 at 2017 4:06 AM

2017-02-06T04:06:51-05:00

"Delay" To review for any of those

"WAIT THERE'S MORE" situations

AKA Affordable Care act.

Response by PFC Jonathan Albano made Feb 6 at 2017 4:49 AM

2017-02-06T04:49:27-05:00

It's conceivable that he want's to weigh the risks and potential impact of the policy before releasing it on those he swore to serve. Possibly do some risk mitigation if necessary. Then again, maybe he's just trying to get in good with his banker friends. His actions will tell us soon enough.

Response by SSgt Jim Gilmore made Feb 6 at 2017 5:23 AM

2017-02-06T05:23:36-05:00

Somewhere along the line things went from caveat emptor to here, invest my money but if you lose it I will have your ass.

Response by SPC Kevin Ford made Feb 6 at 2017 6:06 AM

2017-02-06T06:06:43-05:00

As I said on another thread, if your financial planner is not a fiduciary, kick them to the curb.

Response by MAJ Private RallyPoint Member made Feb 6 at 2017 6:45 AM

2017-02-06T06:45:47-05:00

Because there are many facts in the career field that you haven't taken into consideration. There are two types of financial planners those who sell product and those who charge you for their time. Both have pro's and cons, they are required to disclose it to you. If the financial planner is free he's a salesman, but he's free and does offer good advice just a biased one.

Why should the government make sales jobs illegal??? The rule sounds great in theory but in practicality it hurts the middle class individuals who need options but don't want to pay just to listen to a sales pitch, the commissions guy only gets paid if he convinces you to buy something. The "put the clients first guy" charges up front.

The only commissions type financial planners to completely avoid are the ones who only sell a certain product. Like Whole Life salesmen, just avoid them like the plague.

Response by Cpl Jeff N. made Feb 6 at 2017 7:24 AM

2017-02-06T07:24:28-05:00

The industry (Independent Insurance Agents & Brokers of America) was very concerned about the regulatory impact on their profession. It was essentially trying to make these agents and brokers adhere to fiduciary requirements. If you want a fiduciary, hire one. If you trust your broker/agent, use him/her. We have both for a reason.

The investor should educate himself to understand the difference between the two. One is an independent advisor that usually charges a fee based upon their work (fiduciary) the other typically sells you investment they make a commission on (broker/insurance). Both have a role and the government really doesn't need to force them both to operate the same.

Response by SPC Erich Guenther made Feb 6 at 2017 8:38 AM

2017-02-06T08:38:58-05:00

It doesn't do anything to repeal a regulation that did little good except maybe streamline operations for financial companies. Most Americans did not understand the rule. It was a very weak rule. If Senator Warren really wanted to have an impact beyond her personal Dog and Pony show she would have required certification such as CFP, Degree Requirements, and mandated they follow a standards making body such as CPA's have to follow. In other words make Financial Advisors Chartered like Accountants. That would have fixed the issue comprehensively.

Response by LTC Stephen B. made Feb 6 at 2017 9:57 AM

2017-02-06T09:57:21-05:00

It would be like forcing a car dealer to advise you to buy a different brand - "putting the client first" - rather than trying to sell a car for which the salesman receives a commission.

Response by LTC Stephen C. made Feb 6 at 2017 10:13 AM

2017-02-06T10:13:29-05:00

MAJ Bryan Zeski, I have worked in financial services since 2006. The financial services industry is already regulated by the Financial Industry Regulatory Authority (FINRA) which reports directly to the Securities Exchange Commission (SEC). Anyone that has a securities registration (Series 6, 7, 63, 65, 66, etc.) is already required by regulation to act in the best interest of the client. The volume of paperwork to be completed and the oversight of each transaction already borders on the absurd. It's all done to protect the client.
There are a few bad apples in every barrel, but believe me, there are already an abundance of regulations in place to protect the consumer. SFC Michael Jackson, MBA SP5 Mark Kuzinski

Response by MSgt James Mullis made Feb 6 at 2017 2:09 PM

2017-02-06T14:09:16-05:00

As with most political (and social) issues it's far more complicated than the typical "Us (Obama) good, You (Trump) bad". You could start by explaining how you feel the Obama Labor Department rule would have helped Americans more than it would have harmed them.

Response by SFC George Smith made Feb 6 at 2017 11:25 PM

2017-02-06T23:25:20-05:00

need to see WTF the Full Memorandum says... Before Making any decision

Response by MGySgt James Forward made Feb 7 at 2017 11:17 AM

2017-02-07T11:17:20-05:00

looks like cherry picking an argument to the old guy...Semper Fi.