The Fiduciary Rule: While the clear majority of financial advisers are honest and moral individuals, it appears we are set to protect those who are not. The fiduciary rule was set to establish standards that put a client’s retirement interests above those advising them. Keeping the status quo supports a mantle of credibility where none is deserved. The Fiduciary Rule can help restore Americans’ retirement dreams for prudent future generations, but they still won’t have pensions guaranteeing retirement income. This is a massive first step in the right direction. Sign up here for information on The No Nest Egg Retirement Plan http://www.myretirementrehab.me/earlybird/

1. www.MyRetirementRehab.me
Compensation Drives (Bad) Behavior -
The Fiduciary Rule

2. The fiduciary rule was set to establish standards that put
a client’s retirement interests above those advising them.
Keeping the status quo supports a mantle of credibility where none is deserved.

3. My old boss and mentor
summed it up well:
“Our ‘industry’ is a self-dealing, low standard
entity always ready to blow. Without regs for
behavior and accountability it will continue
to operate at the lowest level.”

4. “Long Term Greedy”
Misleading people is very bad business in the long run.
I have managed:
Individual businesses Institutional businesses
Brokerage relationships Private banking relationships
Fiduciary relationships
I KNOW CONFLICTS OF INTEREST IN THIS AREA VER
About Me

5. Where the Argument Lies
A financial advisor’s activities are not limited to retirement accounts
Advisers provide holistic advice on a plan for the client’s future,
including a retirement account.
The “industry” believes what is “suitable” for a client is different
from what is required for client’s best interests.
My Retirement Rehab

6. -Investopedia
“Now, financial professionals are
legally obligated to put their client’s
best interests first rather than
simply finding suitable investments.”

7. Compensation Drives Behavior
Advisers imbed points of hidden commission in products
for retail investors. Two points is deemed acceptable,
but never disclosed, and clients don’t ask.
Mutual fund classes are created to maximize imbedded
revenue for the “home team”. People trust their adviser
and don’t read the fine print.
Managers whip and drive their teams without regard for
client performance to meet targets. Read more >> My Retirement Rehab

8. Wells Fargo created fake client accounts
to maximize cross-sell and hit revenue targets.
Lloyd Blankfein, says Goldman Sachs is
“…doing God’s work.”
These activities are allowed if “suitable”. They
are not allowed if a client’s “best interest”
need to be regarded.
My Retirement Rehab

9. Sleazy Commission Brokers
Try to hide as many fees as they can.
Manufacture structures no informed person
would knowingly invest in them.
Sleazy Insurance Companies
Both are from a bygone era from which we should run, not walk.
They have lobbied to convince influence law makers that the extra
costs for compliance will reduce the amount of good advice.

10. -The Cato Institute
“…It risks reducing access to
advice and has an infantilizing
view of American investors.”

11. Clients are too Trusting
Few individual investors are equipped to go toe-to-toe with
corrupt industry players.
It is a lie to say advice will be restricted. The wildly profitable
wealth managers can easily afford to enforce a higher standard.
A whole industry of independent fee-only advisers is making
strides to do the right thing for clients.
My Retirement Rehab

12. -The Wall Street Journal
“Merrill Lynch, which has more than
$2 trillion in client assets, has said it
would end commission-based
retirement accounts and charge a fee
based on a percentage of assets even
if the rule doesn’t survive.”

13. I am no fan of regulation. Let’s axe the regulations
that limit businesses to compete and prosper.
Peer to peer lending is a poor investment for
most, but should be allowed for suitable investors.
Penny stocks, limited partnerships, and venture
funding should allowed for the suitable.
Let Me Be Clear
But retirement assets should NOT be
subject to the low standards of the
current regulations.

14. od industry players are not taking a st
The retirement income destruction started with the transition
from pension plans to 401(k) plans in the 1980’s.
Individuals were made to fund their own retirements with a
“corporate match” instead of a company provided pension.
Folks in their 40’s and 50’s got a raw deal. They will pay for
trusting greedy advisers, and have no pension to fall back on.

15. • Support the Fiduciary Rule
• Only trust fee-only advisors
• Create for yourself what
the industry should be providing
• Get several opinions
The First Steps Are Easy
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16. www.MyRetirementRehab.me
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