In a letter to the Department of Labor, CFA has outlined the manner in which DOL’s fiduciary rule supports the goal of facilitating Americans’ ability to save for retirement by ensuring that the advice they receive is designed to serve their best interests and isn’t unduly influenced by conflicts of interest. A fair and open-minded evaluation of the rule will certainly show that, not only is the rule consistent with these principles, it is essential to their achievement. If the Department conducts a fair review, it will inevitably conclude that the rule is working even more quickly and more dramatically than anyone could have reasonably expected to rein in the toxic conflicts that have for too long been allowed to bias retirement investment advice.
