August 6, 2010
Please re-consider any further legislation regarding the Fiduciary compliance process for registered representatives, IAR's and broker dealers. Allowing further lawsuits, promoting lawsuits, encouraging lawsuits will cripple Americans saving money in equities, and will severly effect our stock markets.
Financial Professionals will stop advising clients, they will sell fixed products only - and often our fixed products carry long surrender charges, high up front commissions and is the WRONG thing for consumers. Selling fixed products does not require a securities license.
Let good financial professionals do thier job...
The MAJORITY of registered reps, IAR's and broker dealers do good work and are helping people save for retirement and protecting thier assets with insurance.
Please cap the lawsuits.
Please stop the lawuits.
Please stop encouraging lawsuits. Our disclosures are very clear when clients sign them. Consumers are willing to take risk to get rewards. (Equities). People are not entitled to free money when they are fully aware of risks.
Thank you - Kerry Schepers, LUTCF (14 years of experience)
Small town Maquoketa in Iowa. 20 minutes from Mississippi River - the Heart of AMerica.