April 17, 2017
A new survey of 1,093 NAIFA members has found that the Department of Labor’s fiduciary rule is already hampering advisors’ ability to serve clients and is likely to increase consumer costs.
Nearly 46 percent of the advisors in the survey said they have already experienced restrictions in the types of products they can offer their retirement plan clients, and an additional 44 percent expect such restrictions. Twenty percent have had to increase their clients’ minimum account balances s...
April 10, 2017
NAIFA Take 3: The DOL Rule Delay
Among the takeaways from this video, we emphasize the advocacy value of NAIFA’s Congressional Conference, and urge all NAIFA members to register today !
We also explain how you can help NAIFA contribute to the DOL review of the rule by taking a NAIFA survey and providing data and advice the administration needs to assess the impact of the rule.
September 23, 2016
Much remains unknown about how the Department of Labor’s fiduciary rule will impact the retirement planning market, but one thing seems clear: it will be costly.
The DOL, itself, estimated the cost to comply with the rule will be between $10 billion and $31.5 billion over ten years, with the most likely figure being $16.1 billion. The department expects $5 billion in first-year costs and $1.5 billion in annual costs after that.
Two companies have released figures on compliance...
June 8, 2016
NAIFA and the American Council of Life Insurers (ACLI) have filed a lawsuit in federal court challenging the U.S. Department of Labor’s fiduciary regulation.
“ACLI and NAIFA do so reluctantly,” ACLI President and CEO Dirk Kempthorne and NAIFA CEO Kevin Mayeux said in a joint statement .
The organizations believe the DOL regulation will “reduce Americans’ access to accurate and valuable information from financial professionals about their 401(k)s, IRAs and other retirement plans, inc...
May 20, 2016
The Department of Labor’s final rule to expand the definition of investment advisor fiduciaries under ERISA is complex and poses uncertainty on how the rule will impact retirement investors’ access to affordable products or advice, members of the National Association of Insurance and Financial Advisors will tell Congress May 25 during meetings on Capitol Hill. The meetings take place during NAIFA's 2016 Congressional Conference May 24-25 at the Gaylord Hotel at National Harbor, Md.