Exempli gratia:

Dennis Glass, CEO of Lincoln National, told the Labor Department in a comment letter that its rule was “so burdensome and unworkable that financial advisers and firms would not be able to use it.”

But he told shareholders that “Lincoln, because of our scale, broad set of product offerings and strong and diverse distribution franchises with a proven ability to pivot in response to market or regulated changes … will therefore be able to navigate through whatever comes down the road.” He added, “We don’t see this as a significant hurdle for continuing to grow our business.”

Investment advisers have claimed this would be disastrous for their businesses and would leave retail investors with no assistance in navigating the financial markets.

And if it sends them to buy diversified low-cost index funds from Vanguard instead, so much the better for their long-term prospects…

<img src="http://www.brianhayes.com/pics/wall-street-crook-luckovich.jpg"&gt;