Please allow me to quote something Ann posted in post #3:
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They point to the experience of Great Britain, which has imposed a similar rule.
“The result was that people with smaller savings accounts lost access to retirement advice,” said Sen. Lamar Alexander, R-Tenn. “Many firms quit providing face-to-face advice for small accounts. A quarter of all small firms were forced to close shop all together.”
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So CTB: Doesn't Great Britain's experience count for anything in your evaluation? Or was there something hidden in this legislation that would have magically allowed us to avoid the problems they've had?
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They point to the experience of Great Britain, which has imposed a similar rule.
“The result was that people with smaller savings accounts lost access to retirement advice,” said Sen. Lamar Alexander, R-Tenn. “Many firms quit providing face-to-face advice for small accounts. A quarter of all small firms were forced to close shop all together.”
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So CTB: Doesn't Great Britain's experience count for anything in your evaluation? Or was there something hidden in this legislation that would have magically allowed us to avoid the problems they've had?
