?? A Step Forward or Too Little, Too Late? Understanding the New Retirement Security Rule Proposal

The Biden administration is back in the headlines with a proposed "retirement security rule," aimed at curbing conflicts of interest in the investment advice sector. While the intent—ensuring that financial advisors prioritize clients' best interests—is commendable, one can't help but wonder: Is it too little, too late? https://www.investmentnews.com/dol-proposal-to-reform-retirement-savings-advice-takes-aim-at-junk-fees-245120

?? The Never-Ending Cycle Since the days of the Obama administration, we’ve seen multiple attempts to implement fiduciary rules that protect consumers. Each time, however, loopholes are discovered and exploited by the giants in the industry. And here we are again.

?? The Illusion of 'Conflict-Free' While new regulations may seem promising, let's not forget that large financial conglomerates have had ample time to restructure their organizations, subsidiaries, and parent companies. This way, they can still comply with the law while directing massive profits toward affiliated entities. What seems like "conflict-free" advice can still be heavily skewed to give egregious advantages to partner, subsidiary, or parent companies.

??? The True Value of Independent Advisors In an environment where the deck often seems stacked, working with a truly independent RIA like Keep It Simple Consulting (KISC) offers genuine, unbiased advice. At KISC, the conflict-free ethos is not just regulatory compliance; it’s a commitment to prioritizing your financial wellness.

?? Why Settle for Less? Even if the proposed rule becomes law, will anything really change? Why wait to find out? Opt for an advisor who's been offering what the government is still "proposing."

?? Takeaway If you’re tired of navigating the murky waters of conflicted financial advice, perhaps it’s time for a change. Consider aligning with a genuinely independent RIA. Your future self will thank you.