New Coalition Pushes For DOL Fiduciary Rule

The Consumer Federation of America and Americans for Financial Reform have joined together with the nation’s largest employment unions and the AARP to mount a public campaign supporting of the Department of Labor’s proposed fiduciary rule for advisors overseeing retirement plans. The rule would require advisors to act under a fiduciary standard, putting client interests ahead of all other considerations when making investment recommendations on accounts covered under the Employee Retierment Income Security Act. The group launched a website, SaveOurRetirement.com, Thursday to educate investors on the issue and “mobilize” public support. More on WealthManagement.com here.