What FINRA is proposing is class discrimination. You want only the privileged and wealthy to have access to income earning instruments, while the “little” guy/gal is being stripped of their ability to access the same instruments the wealthy have to build wealth. I welcome more education on these products, but NOT bans. Honestly, every so called financial advisor has only tried to scam me. I have yet to see any returns on investments made by financial advisors. On the other hand, I was able to grow my wealth on my own by accessing crypto, options, ETF-s, etc. The sad part is that there is no recourse against these “financial advisers”. They cash in on their fee, and leave you in the lurch. They are useless. The good ones, are only accessible by the wealthy, not by retail. It is appalling to me that FINRA is considering taking away access to wealth building instruments from individuals who need it most, but when it comes to wealthy hedge funds, there’s no limit on what they can do. What you need to focus on is democratizing finance. Equal access to all whether they have $1 or 1 billion. We don’t need a “daddy” to protect us, what we need is empowerment and education to take our financial wellbeing into our hands and steer it ourselves. Leave crypto, options, inverse/leveraged ETF-s able to be accessed by all. Many people have become independent and turned trading into full time jobs. Do you want to take that away simply because you label them as retail? No, we don’t need “daddy” protection from the government. Regulate hedge funds for a change so they can’t take advantage of the “little” guy/gal. Leave retail alone!
Andrew Comment On Regulatory Notice 22-08
What FINRA is proposing is class discrimination. You want only the privileged and wealthy to have access to income earning instruments, while the “little” guy/gal is being stripped of their ability to access the same instruments the wealthy have to build wealth. I welcome more education on these products, but NOT bans. Honestly, every so called financial advisor has only tried to scam me. I have yet to see any returns on investments made by financial advisors. On the other hand, I was able to grow my wealth on my own by accessing crypto, options, ETF-s, etc. The sad part is that there is no recourse against these “financial advisers”. They cash in on their fee, and leave you in the lurch. They are useless. The good ones, are only accessible by the wealthy, not by retail. It is appalling to me that FINRA is considering taking away access to wealth building instruments from individuals who need it most, but when it comes to wealthy hedge funds, there’s no limit on what they can do. What you need to focus on is democratizing finance. Equal access to all whether they have $1 or 1 billion. We don’t need a “daddy” to protect us, what we need is empowerment and education to take our financial wellbeing into our hands and steer it ourselves. Leave crypto, options, inverse/leveraged ETF-s able to be accessed by all. Many people have become independent and turned trading into full time jobs. Do you want to take that away simply because you label them as retail? No, we don’t need “daddy” protection from the government. Regulate hedge funds for a change so they can’t take advantage of the “little” guy/gal. Leave retail alone!