August 25, 2010
In this day and age of protecting the rights of consumers I can appreciate the intent of the new Fiduciary Standards for financial representives. I do feel, however, that it places an undo burden for professionals such as myself in both time and expense to be able to service many of my clients. I've have made a practice of helping almost everyone and to be frank the person with a smaller amount of assets will become a losing proposition as the margins already are very narrow. If it is your intent to be helping more people I believe the extra regulations will actually harm more people in the long run in them not being able to get sound advice.
Kent C. Saemann
Northwestern Mutual Financial Network