July 30, 2010
In your effort to control and make responsible all registered representatives, you may be hurting the smaller broker dealers and registered reps who are representing millions of people on a much smaller level to help them understand and choose where to invest an IRA, Simple IRA, 401K rollover, college funds. We already have many, many rules we as individuals must adhere to and much required education that reminds us to be ethical. Select corporations and a small number of individuals, have made it very difficult for the majority of us to do a job we desire to do and it make the public not turst anyone in the industry. Please consider that the large majority of us are not crooks, or dishonest and do not take advantage of our clients. For the most part we collect very small fees or commissions for our hard work and study in an effort to help someone invest and plan for their future.
Oversight, on a grand scale, is most important, placing more additional responsiblity on those who run broker/dealers so they can't say they didn't know what was happening is appropriate. But placing additional rules on
registered reps, as individuals, will likely not deter those whose bent is dishonesty and trickery.
Gayle Dax-Conroy, CLU, VP
Rood Dax Advanced Insusrance Services, Inc.