rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/letter/retirement-security-rule?format=js&source=widget'></script><div id='can-letter-area-retirement-security-rule' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> Americans for Financial Reform https://actionnetwork.org/groups/afr-advocacy-fund-c4 https://can2-prod.s3.amazonaws.com/groups/default_facebook_images/000/014/858/original/AFR_Action_Network_Default_(1).png?1738796429 When you hire a financial adviser, you expect them to make investment recommendations that put YOUR best interests ahead of their own. But that’s actually not the case for ALL financial advisers. Loopholes in the current system have allowed some advisers to put their own interests above that of their clients, and recommend financial products that cost too much, perform poorly, lock up savings, or carry excessive risks. This jeopardizes Americans’ retirement savings – and in many cases forces them to delay retirement for years, suffer a lower standard of living, or even go without basic necessities. Financial harm from bad advice can amount to tens or even hundreds of thousands of dollars in lost retirement savings per individual, according to AARP. Lower-income retirement savers who can least afford to have their nest eggs drained by advisers pushing unsound investments for their own gain are especially vulnerable. Collectively, the overall impact adds up to tens of billions of dollars per year.   As is always the case with new rules proposed to defend the small fry, the financial services industry has met these new rules with howls of protest about compliance costs and dire predictions that the entire financial advising industry will collapse. The usual nonsense. Republicans in Congress are expected to soon introduce a Congressional Review Act (CRA) bill to nullify the Labor Department’s rules. We need to stop them. Put simply, every American should be able to trust the advice they get when making important financial decisions. Click “Start Writing” to send a direct message to your Senators and Representative to protect Americans’ retirement savings by defending the Retirement Security Rule now. https://actionnetwork.org/letters/retirement-security-rule