Hylland Capital Affiliated Organization praised by Sen. Warren and the Wall Street Journal
The XY Planning Network, a group in which Hylland Capital Management is an Associate Member, has been leading the charge in providing Americans with access to honest, reliable and affordable financial planning.
And others have been taking notice.
Just this week alone, XY Planning Network was cited by Senator Elizabeth Warren in her letter to the Department of Labor and in the Wall Street Journal's article titled "How to Get Conflict-Free Retirement Advice" as a place where you can go to get honest financial advice, without paying the extravagant fees that have become the norm in this industry.
Now more than ever it is hard to know who to trust in this industry. Just this week the financial industry changed overnight as the Trump administration announced their intent to scale back on the Department of Labor's "Fiduciary Rule" which was to go into effect in April of 2017.
This rule, along many other reasons, was crafted to ensure anyone who calls themselves an investment advisor was required to act in YOUR best interest (not their own). Just how bad have the American people been getting screwed by this industry?
A study by the White House’s Council of Economic Advisers found that investors pay $17 BILLION in fees EACH YEAR.
This rule was set to cost a lot of "financial advisors" - who used to be able to sell high priced, high fee products such as annuities, mutual funds and life insurance - millions of dollars. A lot fought back, and you won't believe who was fighting this rule.
Firms that pronounce their benefit to investors to their face in client meetings, like LPL Financial, Ameriprise Financial, Northwestern Mutual and Edward Jones have been fighting this rule hard behind the scenes. Here is an article from TIME Magazine that shows the extent these companies are going to get the rule repealed.
Do you really think you can trust a financial advisor who is fighting a rule that requires them to act in your best interest, to actually act in your best interest? We don't think so.
Thankfully we at Hylland Capital make it as easy as possible to know whose side we are on (it's yours).
No matter what laws are passed, or however easy it becomes to charge clients excessive fees - we won't do it.
Our membership into XY Planning Network is just one way that you know we will ALWAYS be on your side.
Congratulations XY Planning Network for the recognition - here's to another great year!