July 30, 2010
I am so tired of the SEC trying to impose rediculous legislation that does not benefit the public. One or two bad apples out of 100,000 and because you failed to properly monitor and respond to improprietes you pass legislation on the entire securities licensed agents doing things right.
As of this time every piece of business I do and every client I sign up my business is monitored by my broker dealer for compliance. If there are any questions they call and we discuss this.
I am not a fiduciary and do not give legal or tax advise. I do assist clients in working with their CPA or attorney. My job is to listen to my client, understand their needs and try to find them the best solutions to their needs. That is what I do every day and I am proud of it.
I do not need another layer of beauracracy that may very well ad more liability when someones kids are unhappy about what their parents did 10 years ago.
This will not be an effective or beneficial law to 99.9% of the population.