Vincent Manopoli Comment On Regulatory Notice 22-08
Vincent Manopoli
N/A
While I fully understand the need to have informed investors by placing common investment vehicles such as ESG funds , CEFs, ETF etc. on the list only serves to limit investments from the "common citizen".
In addition artifical barriers such as " broker approval" and tests seem to tilt the landscape toward forcing individuals to use "advisors" who charge fees. We know how well that works with products like annuities which are often hawked to investors based on the fear of loss.
As for me I am glad that I have access to these investments and do not want to be limited by things like tests, brokers opinions, waiting period. I have taken the time to educate myself and all citizens should have access.
Personally, FINRA ought to focus its efforts on education of the public. Maybe take Florida's model of financial literacy in high school to the next level. Stop putting up barriers and teach the masses. Maybe the financial networks ought to be pushed to educate instead of just selling...
Lastly, I think democratizing all types of investment is critical, come to think of it pre-IPO investing being concentrated among the rich and pensions / investment companies would be a good place to start.
Vincent Manopoli Comment On Regulatory Notice 22-08
While I fully understand the need to have informed investors by placing common investment vehicles such as ESG funds , CEFs, ETF etc. on the list only serves to limit investments from the "common citizen".
In addition artifical barriers such as " broker approval" and tests seem to tilt the landscape toward forcing individuals to use "advisors" who charge fees. We know how well that works with products like annuities which are often hawked to investors based on the fear of loss.
As for me I am glad that I have access to these investments and do not want to be limited by things like tests, brokers opinions, waiting period. I have taken the time to educate myself and all citizens should have access.
Personally, FINRA ought to focus its efforts on education of the public. Maybe take Florida's model of financial literacy in high school to the next level. Stop putting up barriers and teach the masses. Maybe the financial networks ought to be pushed to educate instead of just selling...
Lastly, I think democratizing all types of investment is critical, come to think of it pre-IPO investing being concentrated among the rich and pensions / investment companies would be a good place to start.
I thank you in advance for your consideration.