By Kenneth E. Bentsen, Jr.
The following op-ed was published in The Hill February 9, 2017.
Over the last several days there has been a fair amount of chatter around the Department of Labor's pending fiduciary rule, which we believe could make retirement saving more difficult for many Americans. I'd like to set the record straight.
First, the industry has been working diligently over the past eighteen months to prepare to comply with the rule before it becomes applicable on April 10, 2017. Our member firms have undertaken this effort not because we agree with the rule, either in whole or in part, but rather if it's the law, we comply. The industry will endeavor to undertake what its regulators task it to do, but that doesn't mean the rule is without flaws (it isn't), or that the implementation timeline wasn't realistic (it wasn't), or that the implementation timetable demanded by the rule won't have consequences (it will). Continue Reading...