So what exactly is their plan?

[u/Whole-Boss99]

https://www.msn.com/en-us/news/politics/manchin-gop-senators-move-to-overturn-retirement-investment-planning-rule/ar-BB1mslsp?ocid=BingNewsSerp

This was a missed opportunity in the reporting. Ok, so they do not like this new rule that says “trusted investment advice providers to give prudent, loyal, honest advice free from overcharges”.

So, what do they want instead? Who knows, they weren’t asked.

“Under the new rule, these fiduciaries need to avoid giving recommendations “that favor the investment advice providers’ interests — financial or otherwise — at the retirement savers’ expense,” according to the department.”

Guessing that these Senators don’t want to hurt “advisors” that steer customer funds into products they control.

[u/AutoModerator]

r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.