West Loop Financial LLCDOL Opponents Are Motivated By Self-Interest – West Loop Financial LLC https://www.westloopfinancial.com Evolutionize Site Wed, 19 Aug 2020 20:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.22 DOL Opponents Are Motivated By Self-Interest https://www.westloopfinancial.com/2015/08/10/dol-opponents-are-motivated-by-self-interest/ https://www.westloopfinancial.com/2015/08/10/dol-opponents-are-motivated-by-self-interest/#respond Mon, 10 Aug 2015 09:00:28 +0000 http://evolvemypractice.com/?p=2131 The securities industry is all atwitter at the prospect of having to put the interests of retirement plan participants above its own. It’s marshaling its massive resources to fight a rule proposed by the U.S. Department of Labor (DOL) that would require all advisors to be “fiduciaries” to the employees saving for retirement in these...

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]]> The securities industry is all atwitter at the prospect of having to put the interests of retirement plan participants above its own. It’s marshaling its massive resources to fight a rule proposed by the U.S. Department of Labor (DOL) that would require all advisors to be “fiduciaries” to the employees saving for retirement in these plans.

According to a recently published report, President Barack Obama is standing firm in his support of this rule. He stated his goal, which seems modest, as follows: “If they’re advising you on how you should save your money they should be looking out for you, not for somebody who’s selling a product that may not be best for you.”

Read the rest of the article at The Huffington Post.

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