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  1. #1
    Registered User Junior Member
    Posts
    21

    Will fiduciary duty rules be implemented?

    I heard that the fiduciary standard for retirement account investors may not happen. This seems crazy to me. Unbelievable how some people want to allow Wall Street to just keep on duping us and hiding their big fees.


  2. Will fiduciary duty rules be implemented?
  3. #2
    You heard correctly. And it does seem like a shame.

    Maybe there is some hope the proposed regs are being reexamined to see if they can be instituted in a way that is simpler to implement.
    Current Fico Scores: 710 TU, 732 EQ
    My Goal for 2016: 750+

  4. #3
    Registered User Junior Member
    Posts
    31
    Just want to let people know that there are firms out there that are self-adopting these rules, where they will agree to provide you the best suitable advice, etc. So rule or no rule, changes will be coming.

  5. #4
    Registered User Senior Member
    Posts
    100
    Funds are also lowering fees and increasing transparency.

    So if these trends continue, we get all the wins of the rule, without all the paperwork and legal overhangs.

  6. #5
    Registered User Junior Member
    Posts
    33
    Out of all this, expect everyone to be charged a flat percentage to handle their retirement accounts. Where previously you could low cost index without those fees. So not a totally win.

  7. #6
    Registered User Enthusiast
    Posts
    68
    w/drawing the rule may end up really working out, as now there is a lot of pressure for all advice to be with a suitable & best interest of the client standard, regardless if retirement or regular accts.

  8. #7
    Registered User Junior Member
    Posts
    21
    I'd love to see that!

  9. #8
    Registered User Senior Member
    Posts
    189
    Here's what I don't like about the fiduciary duty rules: it is an excuse to jack up fees.

    I'm already invested in cheap Vanguard ETFs. I rarely buy or sell. Just occasional new deposits and rebalances. Overall cost was very low.

    Now they want to charge me a 2% fee to hold the funds. Because they are now going to recommend I buy the exact same things I'm already buying.

    Time to move my account elsewhere.

  10. #9
    Registered User Junior Member
    Posts
    49
    Does anyone really think the these rules would be a boon to the trial lawyers?

  11. #10
    Registered User Semi Pro Member
    Posts
    336
    well keeping lawyers happy is very important.

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