2020 Dec Ebook NewPDF

If your advisor works for one of the
thousands of Broker/Dealers, or insurance
companies, such as LPL, Ameriprise,
Raymond James, Valic, Cambridge,
Northwest Mutual, Wells Fargo, Fidelity,
Edward Jones, Merril Lynch, Voya, Waddell
& Reed, AXA, any bank, to name a few,
then your advisor was going to be required to act in your BEST INTEREST when handling
your retirement accounts. Unfortunately, that rule never went into effect and was officially
vacated in March of 2018 when a number of insurance companies and investment firms
sued the DOL. Now this is really important for you to understand. These companies SUED
the DOL because they did not want to do what was in YOUR BEST INTEREST. The reason
why is because they stood to lose trillions of dollars in excess fees they are charging YOU.
And they won!
DOL’s Fiduciary Rule
SEC’s Regulation BI
First of all, let me explain what was supposed to happen in
2016.
For a very long time, the rules and regulations that govern financial advisors have not
uniformly required all advisors and planners to act as fiduciaries (act in your best interest) at
all times. According to NAPFA (National Alliance of Professional Financial Advisors), this
should be the bedrock upon which the financial planning profession rests.
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