No, the sky is not falling, says Edmund Murphy.
Last September, Murphy, president of Empower Retirement, was named to shepherd the nation's second largest service provider into the next generation of retirement planning after Great-West bought Putnam Investments, where he headed the defined contribution business.
He says he's optimistic that the Department of Labor isn't prepared to throw the baby out with the bathwater as it refines its proposed fiduciary rule. For service providers like Empower, it is rather vital that they don't.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
