Wealth Managers Most Concerned About Regulatory Changes: Survey

[jchmoney]

Here is the problem.
It gets old being told how to run a business from people who do not run businesses. Looking at Finra for example, when you look at the executive team it is all lawyers with no hands on client experience. The other issue is you can not stop someone from defrauding someone else. Criminals do not care about rules and regs written on a piece of paper. Lets face it, Robbery is illegal and has been for sometime. Do you think a Robber cares that robbery is illegal. They know what is right or wrong, more needless regulations is not going to stop the wrong. They only thing these new regualtions do is give more ammo to the lawyers and the regulators to fight a battle that does not exist. The reps who will do right by their clients will do right anyway, they dont need to be handcuffed by more overburdensome rules. The regulators seem to be out of touch with the real world. What they do not seem to understand is that these new rules will start to alienate the very people they think they are protecting, the clients. I don't need a regulator to protect my clients, I can do that myself.