NAIFA Shares the Real-World Impact of DOLs Fiduciary Proposal at Public Hearing
Summary
His practice helps Main Street American families prepare for retirement, giving him a direct understanding of how the DOL proposal will impact his business and consumers. "But, unfortunately, that relationship and advice, particularly when we were just starting out, with only limited assets at the time, would likely not be possible for others in a similar situation today if this proposed rule moves forward." Holz cited preliminary results from an ongoing survey that found 70% of NAIFA members currently impose no minimum asset requirements on retirement planning clients. CEO Mayeux has said NAIFA will explore all options to preserve consumers ability to choose from a variety of financial service models. NAIFA members, in every Congressional district and every state house, subscribe to a strong Code of Ethics and represent a full spectrum of practice specialties to promote financial security for all Americans.