Republican leadership of a House subcommittee tipped their hand with the title of a hearing on the Department of Labor's proposed fiduciary rule.
Seconds into the inquiry—"Restricting Access to Financial Advice: Evaluating the Costs and Consequences for Working Families and Retirees"—the chairman of the Education and Workforce subcommittee on Health, Employment, Labor and Pensions, David Roe, R-Tennessee, threw the first of many haymakers at Labor's proposal.
"We're here to address a regulatory scheme that will hurt a lot of families, retirees and small business owners, and it could not come at a worse time," said Roe, a medical doctor whose practice has sponsored a 401(k) plan.
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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.
