August 2, 2010
I am concerned about any new regulations that could harm the clients that I have served and will continue to serve.
I hold the following licenses Series 7, Series 24
Clients and potential clients need help in assessing their financial situation and in receiving solid information on how they might achieve their goals and protect the the people and things they hold dear in life.
Our Broker/Dealer diligently watches our actions with a particular concern for whether the products/services provided to a client are suitable. We are diligent in working on the front end of our work to understand the client and to make recommendations that are suitable for them. As a backup our B/D requires that we inform them of what we know about the client and they carefully review our work to ensure that the client info and products/services are in alignment.
I am not convinced that a change in the way we operate will help in the client in any way and, in fact, could lead to several unintended results
1. Could create more work at the B/D level that could increase the cost of products/services to the cleint
2. Could create added burdens and potential liability on the Advisor which could necessitate that he/she leave the business.
Thank you for considering my comments.