Don’t Delay the Conflict of Interest Rule
The Department of Labor has just announced a proposal to delay the implementation of a new rule that protects retirement savers from conflicts of interest in retirement advice. With this announcement, they're giving Wall Street a green light to continue siphoning more than $17 billion each year from retirement savers.
It's estimated that on average, conflicted advice costs savers 1% a year due to lower annual returns. This is outrageous. Americans should be able to trust their financial advisers to put their interests first. That's why the Department of Labor and the Administration need to hear from you.
Please note: Comments filed with the Department of Labor are a matter of public record and will be viewable online, including name and address, after being submitted to the docket.