What if the average American could not invest in the stock market or buy mutual funds? What if only the wealthy could do this? Well, as more and more regulations are put on the financial investment industry and more and more minority shareholder lawsuits abound, we may see a time when the little guy gets shut out. In fact many financial planners will not take to anyone who has less than 500,000 dollars to invest. Why? Well they feel it is not worth their time and with all the regulations in the financial planner industry, well, it I really isnt and it is not worth the risk that they might lose their license as the SEC is quick to launch an investigation over any little complaint whether legitimate or not? What can the little guy do? Well you can go down to Merrill Lynch and open up a brokerage account where some young stockbroker will read the latest stock picks on a 3 X 5 index card and tell you where your money should go, while they churn the ever-living-crap out of your account? Why is this happening? Well, the SEC has it in for the little guy, as every 6-8 days they make another rule, causing more paper work and costs to little financial planners and Broker/Dealers forcing them to adjust their business model or quit business. This means they cannot make money taking on small accounts under 500,000 and therefore, the little guys gets to go to the wire houses to get bent over; so my question to you is how do you like your SEC now? Think on it. |
