August 12, 2010
I WOULD SAY THE REGULATORY SYSTEM FAILED THIS COUNTRY AND DAMAGED ITS REPUTATION. WITH THAT BEING SAID I BELIEVE GOOD THINGS COME FROM MISTAKES. HOWEVER, TO BLAME EVERY HARD WORKING ADVISOR SHOULD NOT BE THE DIRECTION OF CHOICE. I ALREADY HAVE (HEAVY) STATE, BROKER/DEALER, AND FEDERAL REGULATIONS AND ALREADY HAVE FIDUCIARY STANDARDS TO THE COMPANIES I REPRESENT. ALL YOU NEED TO DO IS MAKE THE COMPANIES HAVE SUITABILITY COMPONENTS (AS YOU CURRENTLY HAVE), THIS, THEN WOULD TRICKLE DOWN TO THE ADVISOR. WHEN I BUY A CAR AND THE CAR BREAKS DOWN 7 YRS FROM KNOW I CANT SUE THE SALESPERSON WHO SOLD ME THE CAR THAT IS WHAT YOU ARE TRYING TO DO TO MY BUSINESS. MORE REGULATION IS NOT THE ANSWER, I AM REGULATED ENOUGH.
THANK YOU
MONTY WALKER
COLUMBUS NE