WASHINGTON — The financial industry and the White House are gearing up for a fresh battle this spring over investment advice for retirement savings.

The Department of Labor issued a draft proposal earlier this month that would require financial advisers to provide retirement savings advice that is in a customer's "best interest" in an effort to minimize conflicts of interest. President Obama and some lawmakers, including Sen. Elizabeth Warren, D-Mass., have backed the rule, but the industry warns that it may prove too complex and could hinder access to retirement advice.

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

Don't have an account? Register for Free Unlimited Access