June 30, 2009
I am for random audits and for additional regulations of Derivatives, Swaps, Hedge Funds, ETFs and the profession in general and would be happy to testify how this recent "recession" was really, in my opinion a failure of regulations not being applied and too many regulations being dropped. I would love to tell you how it has affected my 300 clients after my business of 30 years as a CFP, Certified Financial Planner. However, if you are going to mandate an audit that costs me $8,400 it might put me out of business, because there are many months that I do not even gross that much and I have three parttime employees and an office with fixed expenses to cover each month of $4,000. Thanks for asking. Patricia