Ernest Badway was quoted in the Financial Times article, "US Financial Advisers Resist Regulators on Pensions Rule."  Full text can be found in the November 27, 2014, issue, but a synopsis is below. 

US financial advisers and investment providers are fighting consumer protection rules that could possibly disrupt the way more than $6.5tn of retirement products are sold. 

However, the change proposed by the DoL, that staff at more than 30,000 financial planning and broking firms should meet a fiduciary standard when advising on individual retirement accounts, is far less drastic. 

Ernest Badway explains that while the DoL can introduce a new rule unilaterally, opponents can then be expected to challenge it in the courts and through Congress.  

This article was also featured in HCP Live.

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