Of the many industry critiques of the Department of Labor's fiduciary proposal, one of the most oft-repeated is the assertion that new regulations would cut off access to advice for low- and middle income investors -- precisely the segment of consumers the initiative aims to protect.
The Labor Department, which has drafted rules that would impose fiduciary responsibilities on advisors working with retirement investors and codify a best-interest standard of advice, is holding a series of hearings on the issue through Thursday.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access