Will Retirees Benefit from the Texas Court Ruling That Favors DOL’s Fiduciary Rule?
By Brian O’Connell
The Texas fiduciary ruling will make it significantly more difficult for money managers to stick clients with higher fees, others say.
“Repeal of the fiduciary rule would imperil the retirement savings of millions of Americans,” says Jon Stein, CEO at Betterment. “When big banks and brokers are allowed to prioritize their own profits, it means hidden fees and conflicts that hurt consumers. Repeal means favoring the bottom lines of the financial services industry over the American people, who deserve financial transparency and honesty.”