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The Department of Labor’s proposed fiduciary rule on retirement account investment advice is bad for the industry and bad for consumers.

This is the overwhelming consensus of industry associations that have submitted last-minute letters in advance of a comment deadline set by the DOL. Among the organizations voicing concerns: the Association for Advanced Life Underwriting (AALU), the American Council of Life Insurers (ACLI), the National Association of Insurance and Financial Advisors (NAIFA) and National Association of Independent Life Brokerage Agencies (NAILBA).

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