The Loyal Opposition

Undertoad · 04-12-2017, 07:24 AM

Financial planners are under-regulated? Here is a "problem" that ONLY affects the upper middle class. It's not exactly the 1%, but it's the 10%-35% who care about this, but good on protecting them and stuff, they are the new Democratic Party after all. Since they are the electorate, they are going to need to be focused on, in the next few decades. Well not "need". They don't "need" but sure enough they will get attention!

You got a financial planner Biggie? Corporate or independent?

xoxoxoBruce · 04-12-2017, 10:01 AM

I already went and signed a shitload of papers to prepare for this. The guy was bitching about the workload but was aware of the reasoning, and glad they were doing something to clean up his profession.

Flint · 04-12-2017, 12:07 PM

Normally, the "I don't care if someone's getting screwed, as long as it's not me" rationale is applied to poor people, but kudos to UT for being fair and applying it to the upper-middle class, too.

ƒuck those 10-35% of Americans whining about a rampant, predatory business culture

Happy Monkey · 04-12-2017, 01:26 PM

Quote:

Originally Posted by Undertoad

Financial planners are under-regulated? Here is a "problem" that ONLY affects the upper middle class.

Quote:

Originally Posted by Investopedia

The definition has been expanded to include any professional making a recommendation or solicitation — and not simply giving ongoing advice. Previously, only advisors who were charging a fee for service (either hourly or as a percentage of account holdings) on retirement plans were considered fiduciaries.

Fiduciary is a much higher level of accountability than the suitability standard previously required of financial salespersons, such as brokers, planners and insurance agents, who work with retirement plans and accounts.

Maybe having a retirement account at all is what separates upper middle class from the rest, but this isn't just about people who have so much cash they go hire a financial planner.

Also, people on social security are often targeted by people or companies who want to manage their checks for them.

Flint · 04-12-2017, 05:53 PM

Quote:

Originally Posted by Undertoad

Financial planners are under-regulated? Here is a "problem" that ONLY affects the upper middle class. It's not exactly the 1%, but it's the 10%-35% who care about this, but good on protecting them and stuff, they are the new Democratic Party after all. Since they are the electorate, they are going to need to be focused on, in the next few decades. Well not "need". They don't "need" but sure enough they will get attention!

You got a financial planner Biggie? Corporate or independent?

Your take on this issue was horseshit, and you were an asshole about it.

04-12-2017, 10:01 AM	#2
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	I already went and signed a shitload of papers to prepare for this. The guy was bitching about the workload but was aware of the reasoning, and glad they were doing something to clean up his profession. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

04-12-2017, 12:07 PM	#3
Flint Snowflake Join Date: Mar 2006 Location: Dystopia Posts: 13,136	Normally, the "I don't care if someone's getting screwed, as long as it's not me" rationale is applied to poor people, but kudos to UT for being fair and applying it to the upper-middle class, too. ƒuck those 10-35% of Americans whining about a rampant, predatory business culture __________________ **************** There's a level of facility that everyone needs to accomplish, and from there it's a matter of deciding for yourself how important ultra-facility is to your expression. ... I found, like Joseph Campbell said, if you just follow whatever gives you a little joy or excitement or awe, then you're on the right track. . . . . . . . . . . . . . . . . . . . . . . . . . . Terry Bozzio**

04-12-2017, 07:24 AM	#1
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	Financial planners are under-regulated? Here is a "problem" that ONLY affects the upper middle class. It's not exactly the 1%, but it's the 10%-35% who care about this, but good on protecting them and stuff, they are the new Democratic Party after all. Since they are the electorate, they are going to need to be focused on, in the next few decades. Well not "need". They don't "need" but sure enough they will get attention! You got a financial planner Biggie? Corporate or independent?

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