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As President Obama Takes the Gloves Off, Pro-Broker Groups Throw Up 'Sledgehammer' Response
RIABizLink to more items from this source
Feb. 24, 2015
" 'There are a whole lot of financial advisors that do put their clients first. There are a whole lot of hard working men and women in the field who got into the field to help people.' Those words were not spoken by Ron Rhoades, Harold Evensky or Knut Rostad. Rather, they were delivered by President Barack Obama at AARP headquarters in Washington, D.C. as he announced stricter rules on financial advisors who manage retirement savings accounts.... Sentiments like those and ones like them (Obama referred to 'selling snake oil) passing the lips of the world's most powerful politician were taken as a positive, if surreal, sign of serious progress on the fiduciary front. Yet the brokerage establishment sees these comments as fighting words."

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