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Employee Benefit News

What the new fiduciary appeals ruling means for employers

By Paula Aven Gladych

Jon Stein, founder and CEO of Betterment and a vocal supporter of the fiduciary rule, said in a statement that “throughout the fight for the fiduciary rule, we’ve seen positive evolution to financial services — including easier access to low-cost investments and heightened awareness of how financial providers are compensated. The decision to void the fiduciary rule is not only a step backwards for the industry, but an attack against the biggest benefit for America’s 75 million hard-working retirement savers. Once again, Wall Street firms have won at the expense of the individual investor.”

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This article originally published March 16th, 2018 on Employee Benefit News