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Fri Aug 14, 2015, 09:28 PM

Just saw an Advertisement talking about Congress screwing up 401K plans making it harder for people

to get info about their plans and harder to invest. Anyone know anything about this ad? My wife said it smelled Republican ad in nature.

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Reply Just saw an Advertisement talking about Congress screwing up 401K plans making it harder for people (Original post)
diabeticman Aug 2015 OP
BayouBengal07 Aug 2015 #1
diabeticman Aug 2015 #2
PowerToThePeople Aug 2015 #4
a kennedy Aug 2015 #3

Response to diabeticman (Original post)

Fri Aug 14, 2015, 09:34 PM

1. The DOL just had a three day hearing period on the proposed rule

Hence the ads.

Basically, it would require financial advisors to state in their contracts that they have a fiduciary duty to act in the best interests of their client. The financial advisor and broker/dealer communities are up in arms.

More info can be found at the DOL website for the reg:

[link:http://www.dol.gov/ebsa/regs/conflictsofinterest.html|

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Response to BayouBengal07 (Reply #1)

Fri Aug 14, 2015, 09:35 PM

2. Thank you.

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Response to BayouBengal07 (Reply #1)

Fri Aug 14, 2015, 10:14 PM

4. so, this makes it harder to invest?

 

only if by invest they mean, let someone take all your money from you without accountability.

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Response to diabeticman (Original post)

Fri Aug 14, 2015, 10:12 PM

3. Yah, I saw that and wondered what the heck is this all about....now I know. Thanks. eom

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