Boo! This is an issue that I know about, and care about. It's just disgusting that Trump is doing this. The financial industry when it comes to clients, does tend to be predatory. That's why I tell everyone who is amenable to listening to put their money in index funds at Vanguard, and keep the financial predators and "pornographers" far, far away from their money.
Done. I was literally picking my 401k options on another tab and decided on a Vanguard index because of this.
I've been looking into IRA options, and Vanguard's a pretty clear choice.
But regardless, a lot of regular, working people are going to get screwed over by this move.