The Department of Labor is getting close to re-proposing a rule redefining the term “fiduciary” that may potentially ban your ability to earn a commission on IRA advice. Through your engagement, we were able to get this rule withdrawal in 2011, but the Department is planning to re-propose it again in September. You must make your voice heard for the future of your business and your clients’ access to your advice!
CALL TO ACTION:Please take a moment today to send this pre-written letter in our Advocacy Action Center or on your smartphone via our Advocacy App asking members of the Congressional Hispanic Caucus and Congressional Asian Pacific American Caucus why they did not sign onto the House of Representatives letter to the Department of Labor (DOL) regarding a proposed rule to amend the definition of “fiduciary.” The whole process will take just a few minutes.
BACKGROUND: The House of Representatives Congressional Tri-Caucus is composed of the Congressional Black Caucus (CBC), Congressional Hispanic Caucus (CHC), and the Congressional Asian Pacific American Caucus (CAPAC). The Tri-Caucus is in a unique position to influence the DOL’s policy. CBC members have signed onto a letter opposing the DOL’s proposed rule to redefine “fiduciary” for purposes of the Employee Retirement Income Security Act of 1974 (ERISA), but only a few members of the CHC and the CAPAC signed onto letter. The letter states that any proposed rule should enhance investor protection without reducing investor access to affordable retirement advice, products and services.
HOW TO TAKE ACTION: Please fill out your information, view the letter, and send it to your elected officials. While the letter provides suggested text, please feel free to personalize.
It is essential to our advocacy efforts that your voice be heard by members of the Congressional Hispanic Caucus and Congressional Asian Pacific American Caucus. Please take a moment today to send the letter today.
Note: Elected officials rarely respond to correspondence from non-constituents. By completing this form, you can help ensure that your elected representative will give your letter the attention it deserves.
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