Vice president, employee benefits MJM Global Insurance Brokerage Group
New rules from the Department of Labor are helpful, but they should be loosened up further so employers can save money and provide better insurance to employees.
Plan sponsors and advisers: “It is important to realize that three or four years from now, what is done today will be examined, and it needs to be done with a good standard of care and mitigation of conflicts of interest.”
Agents will not pursue any actions against investment advice fiduciaries who are working diligently and in good faith to comply with impartial conduct standards.
With the rescue attempt's failure, all eyes now turn to the SEC which is considering its own proposal for raising financial advisor standards of conduct.
