Comments Flood In on DOL Fiduciary Rule Delay

By Melanie Waddell

In its comment letter on the fiduciary rule’s delay, Betterment founder and CEO Jon Stein said that while the rule “may not be perfect — no regulation ever is,” the fiduciary rule “is the only realistic hope for prompt action to improve the quality of retirement advice.”

A delay, Stein continued, “would be bad enough, but it would be even worse if the delay is used as an opportunity to dilute the rule or remove it altogether. We are extremely concerned about this possibility.”

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This article originally published March 7th, 2017 on ThinkAdvisor.