Results 1 to 4 of 4
-
08-08-2017, 10:42 AM #1Karen37aGuest
DOL Fiduciary and its Impact on other industries.
http://www.investmentnews.com/articl...advice-and-the
The DOL rule doesn't ban commissions or revenue sharing, but it requires advisers who accept them to have clients sign a best interest contract exemption, or BICE. It pledges the adviser will act in the client's best interests and only earn “reasonable” compensation. The exemption also must disclose information to clients about fees and conflicts of interest.
Investors with such a contract in place will be able to sue their advisers in court if they believe their interests haven't come first.
(** e.g. not recieving 3% amex rates**)Last edited by Karen37a; 08-08-2017 at 10:47 AM.
-
08-08-2017, 12:34 PM #2Karen37aGuest
"Best interest contract exemption, or BICE"
This will be like an addendum
Markups disclosed full transparency, underwriting fees, admin..etc etc Syndication disclosed and COJ's Banished.
Compliance costs will go thru the roof and prepare to have an in-house staff Attorney or merge.
MCA brokers will affiliate with Debt Restructuring to just use the Attys to protect the merchant to be alleviated of the personal financial responsibility.
Most Isos Terminated, internal staff let go and not for having a dui on a background check.
Funders bankrupted. Held to rates nonsustainable.
Most will not make it out the back end. It will be like a nuclear bomb went off. Even most A paper will not be left standing because( as stated before)
BICE states you must keep your clients best interest at heart or be sued.( that can mean meeting the lowest price, even if it's below par value. )You can sort out the details AFTER they sue you.These Merchants that you think are so ethical are just looking for a loophole to take 100k and skip off into the sunset.
Even some of the ethical ones will turn.
Question: If you could walk into a supermarket and get food for free, fill up the cart and just walk out OR you can choose to pay if you feel like it because it's the right thing to do. How many people are going to pay? Even good people will eventually think...Why the hell am I the only one who is paying?, They are loading up and walking off. I am going to do it too.
Last I am commenting on the Fiduciary I said my peace.I realize I am talking with some people who do not even understand what it really is or the danger. Like people buying stock in a bubble or real estate, they think they know more than you.Last edited by Karen37a; 08-08-2017 at 12:40 PM.
-
08-08-2017, 06:52 PM #3
- Join Date
- Jun 2017
- Location
- South Carolina
- Posts
- 6
Karen, Thank you for your post. I have enjoyed reading it.
-
09-07-2018, 11:34 AM #4Karen37aGuest
http://www.investmentnews.com/articl...FREE/180909974
The Department of Labor's fiduciary rule led to "tremendous" losses for brokerage and other investment firms, causing billions of dollars to be shed from their market valuations as investors feared the rule would hurt profitability, according to a new report.
The report examines the stock prices of 36 publicly traded brokerage, mutual fund and life insurance companies, finding they lost a total $14 billion in value as a direct result of the fiduciary rule.Last edited by Karen37a; 09-07-2018 at 01:19 PM.
Similar Threads
-
Restricted Industries...
By TheShitzuofMCA in forum PromotionsReplies: 0Last Post: 06-07-2016, 11:21 AM -
Brokers must be governed by fiduciary duties.
By MechantLoans in forum Merchant Cash AdvanceReplies: 2Last Post: 08-04-2015, 12:04 PM -
Direct mail advertising and its impact
By DanielDizou in forum Everything elseReplies: 1Last Post: 07-21-2015, 10:13 AM -
What would the impact be on our business if the FED raised rates ?
By JST in forum Merchant Cash AdvanceReplies: 12Last Post: 12-30-2014, 11:17 AM -
The Real Impact on Small Business
By isaacdstern in forum Merchant Cash AdvanceReplies: 4Last Post: 05-23-2014, 09:51 AM