February 3, 2017
WASHINGTON, D.C. – Today, President Trump is expected to act on the Department of Labor’s (DOL) fiduciary rule. Below is a statement from Financial Services Institute (FSI) President & CEO Dale Brown:
“On behalf of the retirement savers who depend on their financial advisors, we applaud the president’s action. Our members pride themselves on working in the best interest of their clients. FSI has supported a uniform fiduciary standard since 2009 – before Dodd-Frank became law. We stand ready to work with the president and his administration to put in place a uniform fiduciary standard that protects investors, while not denying quality, affordable financial advice to those who need it most. At a time when so few Americans are adequately saving for retirement, our elected officials should be doing everything possible to provide more incentives to save, not making it harder. And the Department of Labor fiduciary rule would have not only made it harder, but impossible, for many hard-working Americans to access critical retirement advice.”
About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.