Advisers come out against proposed financial transactions tax

Advisers come out against proposed financial transactions tax
Majority of advisers say such a tax hurts retirement savers; fewer oppose tax targeting high-frequency traders.
JUL 14, 2016
Financial advisers overwhelmingly oppose an effort to tax financial transactions, which underscores the uphill fight facing related legislation proposed Wednesday by Rep. Peter DeFazio, D-Ore. Of the nearly 300 readers who responded to a survey imbedded into a story about the legislation Thursday, 87% said they oppose the idea of the new tax. When asked their opinion of a tax specifically targeting high-frequency traders, the opposition dropped to 53%.
Where do you stand on a transactions tax for:
Source: InvestmentNews survey
Asked how the proposed general tax on stock, bond and derivatives transactions would impact retirement savers, 86% of advisers said it would be negative.
How would a transactions tax on all trades impact retirement savers?
Source: InvestmentNews survey

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound