Implementation of DOL Fiduciary Rule Delayed
The Alternative & Direct Investment Securities Association (ADISA), the nation’s largest trade association representing the non-traded alternative investment space, issued the following comments regarding the Trump administration’s directive to delay implementation of the Department of Labor’s fiduciary rule.
ADISA President John Grady, said, “ADISA recognizes President Donald Trump and his administration for its decision to delay implementation of the Department of Labor’s fiduciary rule. Although well intentioned, the rule, as enacted, would harm the very people it is intended to protect – retirement savers of modest means who would find themselves unable to afford professional investment advice. We encourage the president and his administration to now move forward with a thoughtful and reasonable cross agency regulatory or legislative effort to strengthen ERISA for the ultimate protection of retirement savers in a way that preserves investor choice and access to financial advice.”