Rep. Roskam: Proposed DOL Rules 'A Bad Proposition'

December 8, 2015

If the proposed fiduciary rules set forth by the U.S. Department of Labor are put into play, many Americans would lose out, especially “younger savers and those who have not had a lot of time to acquire significant savings” for retirement, Rep. Peter Roskam (R-IL) told NAIFA members during NAIFA’s Political Involvement and Political Action Training Meeting Dec. 2.   “The state of play on DOL is a bad proposition for a lot of reasons,” Roskam said. “My perception is there are people who b...

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Gaudreau Testifies for NAIFA at House Subcommittee Hearing

December 7, 2015

NAIFA President Jules Gaudreau testified last week before the House Committee on Education and the Workforce that “the effort to craft a bipartisan legislative alternative to the DOL [fiduciary] proposal is critically important.”   The Department of Labor’s proposal , which would require advisors and their clients to sign a best interest contract before the advisors even initiate discussions on investment products, is unworkable. It would limit IRA and 401(k) investors’ and small b...

NAIFA applauds lawmakers’ support for legislative solution to strengthen retirement security

December 4, 2015

NAIFA applauds legislation to be introduced by a bipartisan working group aimed at strengthening retirement security of working families and ensuring retirement advisors protect their clients' best interests. “NAIFA is pleased the legislation will be introduced so quickly following testimony delivered Dec. 2 before the Education and Workforce Help Subcommittee Hearing,” said NAIFA President Jules Gaudreau , ChFC, CIC, who testified before the subcommittee. “NAIFA members from 44 states ...

NAIFA President Gaudreau to Testify at Congressional Hearing, Rep. Roskam to Speak at NAIFA Event

December 1, 2015

On Wednesday, Dec. 2, NAIFA President Jules Gaudreau will testify before the House Committee on Education and the Workforce at a hearing on the “Principles for Ensuring Retirement Advice Serves the Best Interests of Working Families and Retirees.”   Gaudreau’s testimony will focus on three main themes: The Critical need for main street Americans to access financial advice and our concern that the Department of Labor’s (DOL’s) proposal as drafted will create barriers to middle and lo...

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