August 9, 2010
Look folks - we are regulated enough and let's face it, more regulations do not prevent the crooked from launching their evil deeds on investors.
I simply cannot keep up with all these regulations - I am drowning in this paperwork and compliance. Our job - for those of us that work hard to be legal, we provide a valuable service as co-fiduciary's to our customers - I cannot continue to be helpful to them if I continue to be layered with new rules on top of old rules.
My files are constantly monitored by by Broker-Dealer - I hold a series 6 and 63.
How can I possibly be as good a servant to my clients and be of tremendous value to them when I am bogged down with regulations - and how can we protect the community at large if we are bogged down with so much regulation.
Regulations equal more work and more work equals higher fees. This makes no sense to any of us who care about our clients. More red tape is not in the best interest of the clients - it's wrong wrong wrong.