By Sara James | 0 comments
The government has finally awakened to the fact - 10 years or maybe even 15 years after Christian Louboutin Boots market did - that we're in a defined contribution, participant-managed and participant-driven environment versus a defined benefit market, where it's a plan sponsor-driven environment, or even a government-driven one. That recognition has led to more scrutiny and more regulation. There's even a faction in the Obama administration Jimmy Choo Shoes Sale wants to socialize the 401k market. They say, "Let's take the 401k and DC system and make it like a thrift savings plan - all the funds should be seven basis points, index funds, one recordkeeping system. Then you don't need an adviser." There's all this concern about cost and infrastructure and overlap, etc. So the debate within Vibram Five Fingers Bikila Obama administration ranges all the way from Section 408b2, which is more regulations on fee disclosure, to "let's socialize it." What's the result going to be? I don't think those who want to socialize the retirement market will win out because that would be antithetical to the American way. Here we have a system Vibram Five Fingers Classic been created out of thin air from a regulation that wasn't intended to do what the industry did. We have a vibrant, $6 trillion industry that people are saying is the envy of the world. So it's very, very unlikely we're going to go that route - unless we really screw up. That's the message I have for advisers.
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