August 24, 2010
Thank you for all the efforts being instituted to protect the consumers, including myself from financial predation. I strongly advocate that consumers be informed and educated about steps they take for their financial future.
As a member of the National Association of Insurance and Financial Advisors-Hawaii we also aim for disclosure and education.
The proposal to hold registered representative as a legal fiduciary is adding unnecessary regulation to an group that is already covered and strictly enforced. I am examined annually by our Broker Dealer and adhere to a rigorous continuing education mandate.
This may likely result in added fees to our clients which they may not be able to afford.
I appreciate this forum to leave my views and thoughts.