Jump to content
Sign in to follow this  

Horrifying! No fiduciary rule for Variable Annuities

Recommended Posts

We know teachers in 403(b) plans have no protection from the annuity sharks but according to the administration friendliness to Wall Street, just about everybody who has a broker will not be protected either. 


Excerpt: President Trump’s Securities and Exchange Commission, ever faithful and friendly to Wall Street, killed the fiduciary duty rule which required brokers to put customers’ interests first. In its place, rather than having any requirement that firms and brokers make meaningful disclosure to investors, all that is required under the new rule is a “summary prospectus,” a cliff notes version of the actual prospectus be sent to investors.

Hmm, "cliff notes!!!??" instead of a prospectus, absolutely unbelievable. 

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Create New...