Scholarly Financial Planner: I Am Absolutely Stunned by Trump Tweets This A.M. Regarding SEC Nominees, Fiduciary, DOL

Saturday, April 1, 2017

I Am Absolutely Stunned by Trump Tweets This A.M. Regarding SEC Nominees, Fiduciary, DOL

ALL POSTS PRIOR TO 2021 HAVE NOT BEEN REVIEWED NOR APPROVED BY ANY FIRM OR INSTITUTION, AND REFLECT ONLY THE PERSONAL VIEWS OF THE AUTHOR.

Dear Reader:
Please be aware - this post was done on APRIL 1ST, and it was an April Fool's Joke.
THESE TWEETS ARE NOT REAL!
Thank you.

April 1, 2017

In his classic early morning Tweet style, President Trump surprised the financial services community with these tweets this morning:

Donald J. Trump

@realDonaldTrump

Withdrawing nomination of SEC Chair. GREAT GUY but ties too close to HUGE Wall Street firms. Will nominate SEC Commissioners that represent THE PEOPLE!

04:39 AM - 01 Apr 2017

Donald J. Trump

@realDonaldTrump

Dodd Frank to be repealed. But will require financial advisors to act in BEST INTERESTS of their customers.

04:52 AM - 01 Apr 2017

Then, a few hours later, Trump surprised again:

Donald J. Trump

@realDonaldTrump

DOL best interest rule to be studied. My SUPPORTERS want it. Will find way to MAKE IT WORK for THE PEOPLE.

07:46 AM - 01 Apr 2017

Needless to say, this writer is just absolutely STUNNED by these developments. I profess that I don't know what may come from this possible change of direction.

Will the President lead, instead of just blindly following the Wall Street insiders he surrounded himself with?

Will President Trump actually fulfill his campaign promises to look after the interests of, as he states, "the people" - and not the monied interests in Washington, D.C.?

Will the President instruct the DOL to go ahead and implement its "Conflict of Interest" (Fiduciary) Rules?

Alas, then I awoke from my morning slumber, and realized that my dream was amiss. Such a wild fantasy could only happen on April Fools Day.

All my best. - Ron

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To contact Dr. Rhoades, please email: ron@scholarfinancial.com ***** Dr. Rhoades also serves as Director of the Financial Planning Program at Western Kentucky University (WKU), and as an associate professor of finance in WKU's Gordon Ford College of Business, where his students often call him "Dr. Bear." ***** Ron’s posts do not necessarily reflect the views of any firm, institution, organization, gang, cult, clan, mob, ring, cabal, or motley crew to which Ron either currently belongs or has ever been kicked out of.

About the Author

Ron A. Rhoades, JD, CFP® sailed across the Atlantic on a tall ship, performed in theme parks and road shows in Europe and America as a Disney character, rowed on a championship crew team, marched in the Macy’s Thanksgiving Day Parade, marched in competition with a state-champion rifle drill team, undertook a solo one-week trip into the Everglades, escorted numerous celebrities around Central Florida, performed as a “Tin Man” at a mountaintop theme park called “The Land of Oz” in Beech Mountain, NC, and served as a stage manager and talent scheduling coordinator for entertainment productions at Walt Disney World. And then he graduated college.

Since then, Ron Rhoades earned his Juris Doctor degree, with honors, from the University of Florida College of Law, which was preceded by a B.S.B.A. from Florida Southern College. Ron Rhoades has 35 years of experience as an attorney, with nearly all of those years substantially devoted to estate planning, tax planning, and retirement plan distribution planning. Ron also has over 20 years as a personal financial adviser. He was a principal with an investment advisory firm where he served as its Director of Research and Chair of its Investment Committee.

The author of numerous articles published in financial industry publications and several books, Dr. Rhoades has been quoted in numerous consumer and trade publications, and has been interviewed on Bloomberg's "Masters in Business" radio show segment. He writes occasional articles for industry publications. Ron is a frequent speaker at local FPA chapter meetings and national conferences in the financial planning and investment advisory professions.

Ron Rhoades was the recipient of The Tamar Frankel Fidicuary Prize in 2020 from The Institute for the Fiduciary Standard. He also received the Fiduciary of the Year Award for 2011, from The Committee for the Fiduciary Standard, as he “altered the course of the fiduciary discussion in Washington.” He was also named as one of the Top 25 Most Influential persons associated with the investment advisory profession in 2011 by Investment Advisor magazine, and was voted to the “Sweet 16 Most Influential” in Wealth Management’s 2013 “March Madness” competition. Dr. Rhoades was also named as one of the "Top 30 Most Influential" members in NAPFA's 30-year history in 2013. This blog was also called one of the "Top 25 Most Dangerous" in financial services.

Ron A. Rhoades, JD, CFP® became Program Director for the Financial Planning Program (B.S. Finance, Personal Financial Planning) at Western Kentucky University's Gordon Ford School of Business in July 2015. As an associate professor of finance, Ron provides instruction to highly motivated, exceptional undergraduates students in such courses as Personal Finance, Applied Investments, Retirement Planning, Estate Planning, and the Financial Plan Development (capstone) course. He has previously taught courses in Insurance & Risk Management, Employee Benefits, Money & Banking, Advanced Investments, and Business Law I and II. Ron received the Gordon Ford College of Business Teacher of the Year award in 2020.

Ron also serves on the Steering Committee of The Committee for the Fiduciary Standard, and as an Advisor to The Institute for the Fiduciary Standard, on whose behalf he frequently travels to Washington, D.C. to meet with policy makers in Congress and in government agencies regarding the application of the fiduciary standard to personalized investment advice.

He may be reached via e-mail at: ron@scholarfinancial.com.

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Saturday, April 1, 2017

I Am Absolutely Stunned by Trump Tweets This A.M. Regarding SEC Nominees, Fiduciary, DOL

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