October 27, 2010
I know the SEC is considering letting broker-dealers set their own commissions on the new 12B-2 change proposal.
Registered Reps have made enough concessions. Our costs have gone up and our income down. We aren't looking for stimulus money or special attention like everyone else, but Broker-Dealers setting the price will take away the little bit that we make off of most investments….. .25%.....Yes ¼ of 1%. How would congress like a raise like that, let alone this is what we make from the 2nd year of most investments until the client decides to make a change. Please don't attack this in our world as well as everything else in the last two years!
Marc D. Siverson
Wagner Financial Services, Inc.