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M*'s take (from the WSJ giving quotes on reactions to the final regs that I cited in another thread):
Scott Cooley: "“One of my fears was that people who had already had paid a commission on their retirement accounts would be moved into fee-based accounts and then have to pay 1% of assets a year after they had already paid a commission. [But the DOL has] “indicated that it would have to be in the best interest of the client to shift them to a fee-based account from a commission-based account. That’s unambiguously pro-consumer.”
Comments
Scott Cooley: "“One of my fears was that people who had already had paid a commission on their retirement accounts would be moved into fee-based accounts and then have to pay 1% of assets a year after they had already paid a commission. [But the DOL has] “indicated that it would have to be in the best interest of the client to shift them to a fee-based account from a commission-based account. That’s unambiguously pro-consumer.”
https://www.google.com/search?q=Reactions+to+the+Labor+Department’s+Fiduciary+Rule&ie=utf-8&oe=utf-8 (top link for WSJ quotes)