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house Bill H.R. 355

Protecting American Families' Retirement Advice Act

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Education and Labor
      Committee on Ways and Means
    IntroducedJanuary 6th, 2017
    The goal of this bill is to support Wall Street and the brokers stealing money from your, your friends, your siblings, and your parents retirement accounts. Delaying the fiduciary requirement for managing and advising retirement accounts only benefits brokers and their employers.
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    This is a bill not in the interest of folks trying to retire. Vote yes if you feel the people that manage your 401k or pension should be able to make choices that make them richer as opposed to you. Vote yes if you want your broker to continue buying products that give her / him a big kickback. The name of the bill is pretty snazzy, but it's goal is to delay investors from getting good, honest financial advice.
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    When anybody entrusts their money to a professional advisor that person needs to act as a fiduciary for the client. The republicans are trying to delay this important law so they can later get rid of it. Keep this law!
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    From what I can tell, this is a bad deal for retirees and once again skewed in favor of the the company selling retirement products.
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    This cynically deceptive bill does nothing to protect retirement accounts. In fact, it makes it easier for investment advisors to act in their own interests, rather than for the benefit of the accounts' owners.
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    Why delay it? Advisors SHOULD be doing what is in the best interest of their clients NOW, not 2 years from now!
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    What is wrong with you people? Why would you pay someone who wouldn't be doing their job? This should be in the constitution not delayed or repealed
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    Now, unfortunately, the fiduciary rule has been rolled back completely by Trump. WTF.
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