News & Updates

April 5, 2016

EDITORIAL/COLUMNIST ROUNDUP: WHY CONGRESS SHOULD PROTECT OUR RETIREMENT SAVINGS, NOT CATER TO WALL STREET GREED

The Department of Labor (DoL) today released its final rulemaking to update and strengthen protections for retirement savers.  The rule will protect hard-working Americans from losing money because of a conflict of interest when a broker or other financial professional provides retirement investment advice.  The release of this final rule is a tremendous accomplishment in […]

Category: Blog, Media Coverage, Press Releases


January 11, 2016

Statement of Opposition to Roe and Roskam Bills

AFL-CIO, Americans for Financial Reform, Better Markets and Consumer Federation of America released this statement in opposition to the two bills introduced last week by Representative Phil Roe (H.R. 4293) and Representative Peter Roskam (H.R. 4294) to undermine the Department of Labor’s efforts to establish a best interest standard for retirement advice and finally protect […]

Category: Press Releases


December 7, 2015

It’s Past Time to Hold Financial Advisers Accountable

Bloomberg op-ed, former SEC Chairman Arthur Levitt Jr.

The Labor Department is attempting to update the fiduciary standard, raising the bar for any advice given by brokers working with retirement investors. If instituted, financial advisers will have to place a client’s interests above their own or those of their firm. That doesn’t seem like too hard a standard to meet, but not all […]

Category: Media Coverage


December 2, 2015

Congressional Testimony of Supporters of the DOL Rulemaking

Marilyn Mohrman-Gillis, Esq. Managing Director of Public Policy and Communications Certified Financial Planner Board of Standards, Inc December 2, 2015 Testimony Damon A Silvers Director of Policy and Special Counsel AFL-CIO September 30, 2015 Testimony Mercer E. Bullard President and Founder, Fund Democracy, Inc. and MDLA Distinguished Lecturer and Professor of Law University of Mississippi […]

Category: Blog


November 19, 2015

A New Threat to Your Retirement

New York Times, Teresa Tritch

In April, the Labor Department proposed an important rule designed to protect Americans’ retirement savings by requiring advisers to act in their clients’ best interests — and not their own. As things stand now, brokers, insurance agents and other salespeople — who often call themselves “consultants” or “advisers” — are allowed to steer clients into […]

Category: Blog, Media Coverage


November 16, 2015

Wall Street Has a Unique Way of ‘Protecting’ Small Investors

The Street, by Susan Antilla

What could be better for an investor of modest means than to wake up one morning with a bevy of new friends in high places on Wall Street and in Washington?  Just such a miracle of paternalism has occurred, as financiers and politicians have joined forces to protect the American public from a sinister plan […]

Category: Blog, Media Coverage


October 28, 2015

Congress’s Plan For Protecting Investors: Protecting Wall Street

Time, by Ian Salisbury

Here is what’s happening: Many Americans assume that working with a financial adviser means they will receive unvarnished advice, the same way they would from lawyer. As it happens, many financial advisers that earn commissions rather than fees don’t do this at all. They are essentially brokerage salesmen, free to peddle whatever investment products offer […]

Category: Blog, Media Coverage


October 25, 2015

Wagner vs. Obama: Are investors being soaked?

St. Louis Post-Dispatch, by Jim Gallagher

The Labor Department rule would turn advisers — read stock, bond and insurance brokers — into “fiduciaries” when they give advice on retirement accounts. That means they must place their clients’ interest above their own when advising people on 401(k)s, IRAs and the like. Many clients expect their advisers to do that anyway. But legally, […]

Category: Blog, Media Coverage


October 19, 2015

Supporting the Department of Labor’s “Best Interest Rule” Is Good for All Business

Huffington Post, Leo Hindery, Jr., Co-chair of the Task Force on Jobs Creation and former CEO of AT&T Broadband. 

[T}there’s a decision industry leaders can make today that would send a signal that we’re serious about rebuilding the public trust: supporting a Department of Labor initiative that would finally make doing what’s right for retirement savers the law of the land.  … Of course, not everyone who gives retirement investment advice is taking advantage […]

Category: Blog, Media Coverage