In the past 6 months the federal government has already expanded the fiduciary rule, which states that a person controlling another person’s assets must place that person’s needs before them, along with designing the myRA, a retirement account for individuals that do not have access to an Employer Retirement Plan, i.e. a 401(k).
These two actions should make everyone in the financial industry sit up an notice, but surprisingly it is still business as usual even though the door is now wide open for the federal government to walk in and regulate retirement plans on the employer level.
The financial industry as we know it could possible change in the very near future.
Here is a 20 minute broadcast from “Eyes and Ears and Wide Open” which can be heard on WSMN 1590 AM Nashua NH’s Source for News and Talk Radio explaining what has happened.