Now that the Department of Labor is back at the drawing board trying to determine what should constitute a fiduciary under 1975 ERISA amendments, the industry wants to make at least one point clear: investors should have good choices, regardless of the business model their advisors use.
“That’s our top priority,” Chris Paulitz, director of communications for the Financial Services Institute said on Wednesday. “Consumer choice and ensuring the 19 million IRA holders continue to be able to afford professional financial advice and not have to turn to the Internet to plan their financial futures.”
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