UNLOCK THE POWER OF THE VAULT

Chamber of Commerce to Fight DOL Fiduciary Rule

January 19, 2016

by in Rulebook |Jan 14, 2016 | Wealth Management.com

The U.S. Chamber of Commerce said Thursday it will use every tool at its disposal to challenge the Department of Labor’s proposed fiduciary rule, including a potential lawsuit and working with Congress.

“We’ve had very strong conversations with people in Labor and in the White House and what has to happen to that rule for it to be acceptable and not destructive to the retirement system of small companies and others,” said Thomas Donohue, president and CEO, in comments to reporters following his annual State of American Business address.

“If [the finalized rule] looks appropriate, we won’t have to sue. If it’s not appropriate, it’s not just suing; we now have, in the Senate and in the House, much better systems to use the appropriations and other parts of the committee process to work on this deal and we will.”

 

Article Located Here

Print Friendly, PDF & Email
Go Back
John E. Moriarty, ChFC
December 2015
February 3, 2016

I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture.  For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments.  Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients.  I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.