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New Rules Proposed for Financial Advisors

Our next guest says that many, if not most, of the titles behind the names of people in the financial advice industry are largely meaningless. Titles such as financial advisor, financial consultant, financial planner, wealth manager.  Meaningless from a legal and regulatory perspective anyway.  The Securities and Exchange Commission however, has recently proposed new rules that they hope will alleviate this situation.
 
Mike Switzer interviews Dave Gerdt, a certified financial planner with the Hultquist Firm Advisors in Greenville, SC.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.