DOL Fiduciary Rule: Statement from FSI

February 3, 2017

Today, President Donald Trump is expected to take steps to delay 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, which will delay a rule with devastating consequences for so many people. 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.”