This week, much of the financial services industry issued a collective sigh.
The Department of Labor made considerable concessions to industry in finalizing its fiduciary rule, according to both supporters and opponents of the rule's proposed form.
While the specifics of the more than 1,000 page rule are still being reviewed by providers, advisors, ERISA experts, and likely the plaintiffs' bar, one advocate for annuities remains concerned the rule will hinder retirement savers' access to lifetime income options at a time when more retirement experts and regulators are hoping to expand access to guaranteed income products.
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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.
