Fiduciary schmiduciary rule

I think every newsletter or article I get about the financial industry is all about the new Fiduciary rule that advisors will be affected by. Frankly, it is just another way for the government to impose new tactics in protecting long time agents and agencies make even more money and be protected from competition. They want agents to be more liable for the advice they give and make sure they aren't just selling unnecessary investments. The concept is great! Who doesn't want to be sold a crappy investment and if they are sold one they want to make sure the seller is held to the right standard. This just makes advisors charge higher fees in order to offset their insurance costs and pushes more advisors out of the market.
The past few years have seen an increase in Robo-advisors who use technology to help people invest their money. These advisors operate on extremely low fees and allow consumers some much needed flexibility. Under the new rule, these advisors might be put into question and their low fees might be a thing of the past.
A good advisor shouldn't have to worry about these changes. If they truly do act in the best interest of their clients, are competent, and do a good job, they will continue to offer value to their clients and be able to make money. The trouble most advisors have though is getting clients. With more and more competition to the low cost alternatives, it just makes it even more difficult to gain that clientèle and be that long term advisor that people are willing to pay the higher fees to.

American Dream U and Nevada benefits

Nevada Benefits, partnered with American Dream U, has reopened a state of the art, 24 hour access, fully equipped workspaces, whiteboard walled conference room, fully furnished offices, business lounges and video communications center!!  It's been designed not to be "nickle and dimmed" along the way!!  

Can't bet the location in Summerlin right off the Summerlin Parkway and Town Center Drive (1 block from 24 hour fitness and Starbucks!).

Contact Phil Randazzo for more information at phil@nevadabenefits.com or call 702.258.1995

http://www.americandreamu.org