Call to Action:
August 3, 2009 10:30 a.m. PST
The following is a Call to Action, as per a preceding
article posted on this site. Please take time to re-read the article and
use this Call to Action as an opportunity to effect positive change in our
legislative system, as it relates to the brokerage industry.
The new SEC Commissioner, Mary Schapiro, formerly from FINRA (Financial Industry Regulatory Authority, the regulating body for all securities firms in the U.S.), has proposed transferring fiduciary Registered Investment Advisory (RIA) firm regulation to FINRA, currently overseen by the SEC. This transfer of authority would create a potential conflict of interest and could potentially change the landscape of our current economic environment. Instead of creating an environment where all firms are subject to a Compliance/Suitability standard, we should insist on creating an environment in the financial world, where all persons who offer financial advice to the public, be held to a Fiduciary standard.
In order to ensure the best possible
outcome for consumers, we must show strong support
for the Fiduciary Standard. How can you make a difference? It's
really quite simple; evoke your right as a citizen and as a consumer, to
write to various members of the Financial Services Committees, to show your
support for the Fiduciary Standard, or your disdain with the alternative.
Here is how you can express your call to action:
You can send a message, by clicking on
the "Contact" button at the top of the web pages listed below:
House Financial Services Committee
United States Senator Chris Dodd
If you need assistance on how to contact, or what to include in your email or letter, please feel free to contact us at Wealth Analytics. We have plenty of sample letters we can provide, and would be happy to share, in order to support this extremely important cause.
Mark Halsey
Staff Writer at Wealth Analytics
