NAIFA team to DOL: Make the fiduciary rule workable — or else!
October 7, 2015 by Warren S. Hersch
If the Department of Labor doesn’t revise its proposed fiduciary standard to satisfy the concerns of retirement advisors, then the industry is prepared to support Congressional legislation that would cut off the department’s funding.
That drastic measure was among the steps the government relations team of the National Association of Insurance and Financial Advisors said it might back if the DOL finalizes the current draft of the proposal, which NAIFA views as “ugly” and “unworkable.” The association’s strong opposition to the proposal, in addition to other legislative and regulatory threats to the industry, received a full airing during a one-hour legislative forum at NAIFA’s 2015 annual meeting in New Orleans on Oct. 5. Click HERE to read article