NAIFA CEO Represents Advisors and the Consumers They Serve in Meeting With Administration Officials on DOL's Fiduciary Proposal
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Tuesday, October 10, 2023
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ARLINGTON, Va., Oct. 10, 2023 /PRNewswire-PRWeb/ -- Kevin Mayeux, CAE, CEO of the National Association of Insurance and Financial Advisors (NAIFA), told the Biden Administration in a meeting that the Department of Labor's (DOL's) current efforts to revive a fiduciary-only regulation for financial professionals is unnecessary and likely to harm low- and middle-income consumers.
Key Points:
- "NAIFA regularly meets with Administration officials to discuss issues important to financial professionals and the consumers NAIFA members serve," Mayeux said.
- "NAIFA members work in their clients' interests because it's the right thing to do and because it's good business.
- Additional action by the DOL at this time would create confusion for advisors and consumers without providing meaningful consumer protections.
- "NAIFA will continue to work with the Administration and members of Congress on behalf of financial professionals and the consumers who depend on them to oppose an unnecessary and potentially harmful DOL Fiduciary Rule."