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New investment rule could save investors billions


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Nah...we don't need more regulations.....

 

Asking an adviser about whether he/she is a Fiduciary...Reminds me of the old "Our Gang" comedy....when one gang member asks a fellow gang member whether he has a license....anyone else remember that one ?

 

Regards

Gemstone

'06 Elite Suites, '08 Softail Classic, '06 Softail Deuce.

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Whistling in the dark?

 

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RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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I hear ya Gem,

Apparently most did not take the time to actually read the article.

 

"The CFP Board, as it is known, has already been through the process of imposing a conflict of interest standard. In 2008, it adopted a fiduciary standard requiring its planners to act in clients' best interests.

 

"We heard the same arguments: It's going to reduce the availability of services, and CFP professionals in our firm will have to rescind their certification," said Marilyn Mohrman-Gillis, head of public policy at the CFP Board. But since the board adopted it, profits for CFPs overall have increased more than 30 percent, she said.

 

In addition, a 2013 study for the CFP Board found that 46 percent of so-called fiduciary registered representatives saw assets under management increase an average of more than 10 percent annually over the five years since 2007, as did 55 percent of registered investment advisors, who also have to meet that standard. Only 29 percent of other registered representatives saw assets grow that much."

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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Personally, I think the Banks are behind this legislation.

Do you really think the goodwill of bureaucratic government is behind it?

 

Banks are jealous of the BDC's (Business Development Company)

BDC's use Financial Advisors to fund large amounts of money.

 

At any rate, unless one has participated in these things, met face-to-face with other participating investors, it really is "whistling in the dark" for folks.

 

Learn and use the FINRA site if thinking of using a financial adviser.

Lance-white-sands-500.jpg

~Rich

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Here's one BDC that you can buy though a financial adviser: Griffen Capital

You can't get in otherwise.

 

Our adviser uses the Endowment Model

 

20 to 30 percent returns? Mezzanine debt is often "part" of some financial products. Senior secured debt being preferable.

 

One should not confuse a BROKER with a financial planner or adviser.

 

 

Lance-white-sands-500.jpg

~Rich

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