Fiduciary rule final stand: ‘Please rethink this’
EDITOR'S NOTE – The comments below were culled from the Department of Labor’s public database. Following a news report casting doubt on the authenticity of some comments about the fiduciary rule Financial Planning independently verified each one appearing in the piece. Some comments were removed from the original post because they did not offer enough contact information to confirm them with the writer.
The future of the fiduciary rule is up for grabs, again, and clients, advisers and firms are jumping in to make their voices heard at a crucial moment.
Via a public commentary board, the Department of Labor is hearing feedback on whether it should make changes to the fiduciary rule and delay the regulation's second stage of implementation.
Though the Labor Department has previously hosted similar comment periods, this one stands out because the stakes are so high. The remaining components of the regulation are scheduled to go into effect Jan. 1. After years of effort, fiduciary supporters are making one last push to get over the goal line. Opponents, meanwhile, see a chance to reverse their momentum.
Scroll through to see some of the most passionate and insightful comments filed thus far.
To read advisers' previous feedback to the Labor Department, click here.