Fiduciary rule delay unleashes torrent of public commentary
Editors’ note – The comments below were culled from the Department of Labor’s public database. Following a news report casting doubt on the authenticity of some comments about the fiduciary rule, Financial Planning independently verified each one in the piece. One comment was removed from the original post because there was not enough contact information to reach the writer.
The Department of Labor’s move to delay the fiduciary rule unleashed a torrent of public commentary.
By March 13, more than 560 wealth management firms, advisers and investors had posted opinions about the rule on the DoL’s public commentary board, in hopes of nudging the department closer to their position.
Some say the rule will bring higher compliance costs and increased litigation. Others say delaying the rule is unconscionable because of pernicious conflicts of interests among advisers and firms.
Click through to see some of the most insightful comments.