DOL Delays Fiduciary Rule

Statement from NAIFA CEO Kevin Mayeux, CAE

“The Department of Labor today filed its rule with the Office of Management and Budget to delay the applicability date of the fiduciary rule by 18 months, which is a step in the right direction.

“NAIFA has worked diligently throughout this process to educate the administration and members of Congress about the rule’s potential unintended consequences that could deprive middle-market savers of access to professional, individualized advice. We will remain vigilant to assure the DOL rule does not disrupt the marketplace, increase costs for retirement savers, and eliminate access for middle- and lower-income workers to individualized retirement planning services.

“NAIFA members are on the front lines in communities across the United States serving the individuals, families and small businesses the rule is likely to impact the hardest. NAIFA, ACLI and our coalition industry leaders will continue to inform lawmakers on the impact the rule is having on the industry and consumers. We look forward to working with the Department of Labor and Congress to ensure advisors are able to serve their clients and guide them to secure financial futures.”
  • Posted November 2, 2017 IN

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