Last year, President Obama’s labor secretary, Thomas Perez, successfully issued the fiduciary rule to ensure that financial advisers provide advice that is untainted by conflicts of interest. The rule is scheduled to go into effect next month.
Unfortunately, the Trump administration and Republicans in Congress are siding with Wall Street bankers over current and future retirees in an attempt to delay and destroy this rule which protects our retirement from unscrupulous financial advisers.
Right now, the Department of Labor, at the direction of Donald Trump, is “examining” an Obama-era rule that would have protected working people from unscrupulous financial advisers. If DOL rolls back this critical protection for working people, financial advisers will be able to continue providing conflicted advice that increases their commissions at your expense.
The Department of Labor is currently accepting comments to “examine” the impacts of the fiduciary rule in a thinly veiled attempt to abolish the rule. We need thousands of individuals to submit comments to protect our retirement security and keep the rule alive.
Click here to submit a comment in support of the fiduciary rule to protect our retirement savings from unscrupulous Wall Street “advisers.”