The pendulum of regulation is swinging away from the framework put in place post-Great Recession. From WSJ:

“President Donald Trump signed an executive action that establishes a framework for scaling back the 2010 Dodd-Frank financial-overhaul law, part of a sweeping plan to dismantle much of the regulatory system put in place after the financial crisis. Mr. Trump also signed another executive action aimed at rolling back a controversial regulation scheduled to take effect in April that orders retirement advisers, overseeing about $3 trillion in assets, to act in the best interest of their clients. Critics have said the regulation would upend the retirement-account advisory business.”

Why do I say our work just got more important? Well the counterweight to less regulation is EDUCATION. When retirement advisers don’t need to act in the best interests of clients, the clients better learn enough to be able to make their OWN decisions that ARE in their own best interest. My motivation level just kicked up three notches.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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