NAIFA Asks Members to Submit Comments to DOL on Proposed Rule

NAIFA Blog readers know how the Department of Labor’s proposed fiduciary rule would impact their practices and their retirement investment clients. NAIFA leaders and staff have met with DOL officials to explain why the rule in its current form is unworkable. NAIFA also supports legislative remedies in Congress.
 
See also: DOL proposal is not in investors best interests.
 
Now it’s your turn. DOL is accepting comments on the proposal, and NAIFA encourages every advisor who works with individuals or employers on retirement plans or accounts to make their views heard.
 
A NAIFA GovAlert provides more information and a link for you to submit your comment to the DOL.
  • Posted July 6, 2015 IN
  • Comments (2)


Comments
myceisonline.com
I completely agree with this article. I am glad you guys are keeping everyone up to date on what is going on! Online insurance continuing education can help the public make more informed decisions!
7/15/2015 6:11:35 PM
Angelia Shay
I serve middle america who quite frankly are in desperate need of more people like me to make things simple for them. When you force me to go fee based to be paid for my time adequately the very people who need my help most will no longer pursue the help. Many of them see the up front fee as an obstacle to the advice. When they are able to use their assets to pay me the press forward. And quite frankly when you do the math on the commissions we receive and the service we provide to clients for decades it breaks down to pennies when it is an up front commission. For example in 1998 I retired an individual and was paid $35k to move his money. Today 17 years later I have spent more than 320 hours helping them through the years and am still servicing them. That is currently $109 hourly for my time and the longer we both live the lower the number gets. This is still a servant business. We serve first and the adviser who do the wrong things don't last long enough to destroy it for the rest of us. We care about our clients and that is why we still have practices. As in any industry the cream rises to the top when you give it time. Regulated good people to stay away or to quit doesn't work. Look at the medical side of our economy. Regulated to death and now we can't get people to practice med. And again the consumer pays the price
7/6/2015 3:45:38 PM