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Other leaders and think about leaders and also to look at Anglo American relations, the aristocracy. Here is a photo of her when she was married to lord randolph and churchill was born in 1874. She was born in 1854. There you see Young Winston with his loving mother. Look at how he is dressed. What an embarrassing portrait for a statesman, right . [laughter] well, churchill wrote in his autobiography that he was a troubled boy in the sense that he caused trouble for others. He said, i was called a troublesome boy. There he is, about 14. You see that scowl. Wow. Does he look like that . [laught...

Wouldnt a level Playing Field as you said from your testimony, we have concerns about things like there is a some Data Retention obligations and we think you could do it differently. There is a best interest contract framework and weve heard feedback from folks saying it is clunky and there is a more streamlined way to do it. We have a point of sale disclosure requirement and people have said that that is not necessary. And so what weve done in every circumstance when someone said that the best interest contract is clunky, our response is tell us how to do it better. How do we retain that nort...

Sometimes they are not. Its already confusing to begin with. We need one standard and it ought to be the best interest. I love the one standard. I love the best interest tests. I assume there are a lot of people who are making a lot of money. So ive got to see, this one seems like a nobrainer to me. Hard working americans who manage money for their retirement should be able to trust that their retirement advisers are looking out for them. And besides that the thousands of honest hard working advisers and brokers around this country who already put their clients first every day shouldnt have to...

We can get straight to their testimony. First, peter snyder, president of a grnlg company which i visited before. Thank you for being here peter. Peter is the leader of Financial Services providing income Retirement Savings options and insurance to millions of americans. Mr. Sflieder became president and served before that as the executive Vice President for primerica. We welcome you here today. Thank you. We have some scott purit managing contractor of defiance i. R. A. In maryland. He is a retirement director. A masters degree from harvard university. Welcome and thank you for being here. At...

Other sister agency. Its a meritorious move. You said is, quote, good people operating in a flawed system. Would you explain that . Sure. There is a misalignment between the incentives that a person giving advice has and the best interest of the consumer. So, for instance, again, getting back to the tofels, if you have four or five different products under the current suitability rule that are suitable and product the first product, the variable annuity generates 26,000 a year in fees and another product, which would have a comparable return has a fraction of those fees, you have per verse inc...