Put clients’ interests first


I clipped the except below from the Corridor Business Journal’s Morning Rush (4/20/2017).  For many years, I have used a Fee Only financial advisor to manage my personal investments and that advisor has always been required to put my interests ahead of his interests.

So I believe Attorney General Tom Miller is on the right tract to pursue getting this rule implemented and I support him in his effort.  -Joel D. Miller – Linn County Auditor

Iowa attorney general signs letter to lift ‘fiduciary rule’ delay

Iowa’s attorney general wants to speed up the process of implementing a rule that would require financial advisers to put clients’ best interests ahead of their own. Tom Miller is leading a group of eight Democrat attorneys general in urging the U.S. Department of Labor to lift its delay in implementing a rule that was set to take effect April 10, reports the Des Moines Business Record. The Obama-era “fiduciary rule” was delayed for 60 days to June 9 after President Donald Trump ordered the agency to review the rule to determine whether it would adversely affect Americans’ ability to gain access to retirement information and financial advice. In the letter to Acting Secretary of Labor Edward Hugley, the attorneys general said, “to the contrary, postponement of its application is costing investors tens of millions of dollars each day as advisors continue to give conflicted advice and the rule should be implemented without further delay.”

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: