Labor Department’s new rules are a costly, confusing bureaucratic maze for most investors
Congress should step in and force them to slow this down and get the rule right, before millions of Americans lose access to their current retirement advisers.
By Guest Column David Hirschmann—— Bio and Archives--November 26, 2015
American Politics, News | Comments | Back To Full Article
WASHINGTON, D.C.—The Department of Labor has proposed a complex and flawed set of new rules that will do nothing to further the goal of ensuring financial advisers put their clients first.
We agree with the Department’s goal, but the maze of bureaucratic rules they have proposed simply won’t work.
If not fixed, it will create more confusion and fewer choices for middle class savers, particularly the 12.3 million American households whose Individual Retirement Accounts (IRAs) currently have less than $25,000.
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