Will DOL Fiduciary Rule Be Watered Down?
By Bernice Napach
Also on Thursday, House Republicans introduced the Affordable Retirement Advice for Savers Act, which would repeal the fiduciary rule, and GOP senators introduced a companion bill.
That worries Jon Stein, the founder and CEO of Betterment, the digital financial advisory firm. If Labor’s review of the rule “leads to a rollback of the previsions going into effect tomorrow, the positive progress represented by the fiduciary rule will be lost,” said Stein in a statement.