Here’s what SEC Commissioner Robert Jackson, Jr., said about the Regulations’ passing:
“My hope was that the rules we announced today would significantly raise the standard for investment advice in this country,” Jackson said during the open meeting Wednesday.
“I hoped to join my colleagues in announcing that the nation's investor protection agency has left no doubt that, in America, investors come first. Sadly, I cannot say that. Rather than requiring Wall Street to put investors first, today's rules retain a muddled standard that exposes millions of Americans to the costs of conflicted advice. Even worse, contrary to what Americans have heard for a generation, the Commission today concludes that investment advisers are not true fiduciaries.” [1]
Wow! That is strong language!
We at Archetype Wealth Partners are not waiting for the government to get the regulations right.
We believe every investor deserves a financial advisor who represents them 100% of the time RIGHT NOW.
That is why we left the big Wall Street banks to start a company without the same conflicts of interest.
While the government negotiates with the Wall Street lobbyists on what disclosures they may or may not have to make, we are happy to keep serving clients the way we would want to be served.
Click here to schedule an appointment to BE HEARD and UNDERSTOOD.