Note: Please see my blog posted On August 1, 2016 for original article.
President Trump signed an executive order which will ultimately nullify the new regulation which was to go into effect in April. That regulation would have required financial planners to place client’s interests first in recommending products. As a result, the continual policies of allowing planners to recommend “suitable” products, even if they are more profitable to the planner will remain.
In essence, the planner’s firm or company interest will supercede that of the client. An absolute conflict of interest in my mind.