Brad Campbell was quoted in a Financial Times article titled, “Trump team looks to scrap retirement advisory rule.” The article discusses how Trump’s incoming administration is looking to change or possibly eliminate the DOL fiduciary rule. The Obama administration has previously stated that the rule would save American investors $17 billion in fees and lost returns a year.
According to Anthony Scaramucci, a member of Trump’s economic advisory council, the Trump administration would impose a “self-auditing process” for registered financial advisers. Brad noted that the rule will likely be changed or even revoked, but not immediately.
“We know Trump campaign advisers spoke against this rule, and it’s likely to be changed, but we don’t yet know how or when,” Brad said. “They could scrap it, but not with a stroke of a pen on day one. There are many regulatory tools available to the Trump administration to modify or remove the regulation.”
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