Washington DC Counsel Brad Campbell was quoted in two PlanSponsor articles, titled, “Pushback and Applause for Obama’s Fiduciary Comments” and “Implications of Fiduciary Proposal Remain Opaque,” that focused the new fiduciary rule proposal. In both articles, Brad mentions that while the White House estimates “conflicted” advice costs participants $17 billion per year, the Department of Labor has previously determined that the lack of access to investment advice costs participants about $100 billion per year. He expressed concern than an overly restrictive proposed regulation could, in the name of preventing conflicts of interest, result in even less access to investment advice.
Click here to read Brad’s comments in “Pushback and Applause for Obama’s Fiduciary Comments.”
Click here to read Brad’s comments in “Implications of Fiduciary Proposal Remain Opaque.”