In recent blog posts, I have written about NAIFA’s work to minimize the damage of the Department of Labor’s proposed fiduciary rule for our members and their clients. Our written comments, meetings with department officials, and testimony at DOL and congressional hearings have put our concerns on the record and educated both the DOL and lawmakers on how the rule as currently written would harm advisors and consumers.
Unfortunately, it’s impossible to know whether the DOL’s final rule will address all of our concerns. With this in mind, NAIFA is working with members of Congress on potential legislative responses should the final rule remain unworkable. The good news is that senators and representatives from both sides of the aisle have voiced their concerns over the DOL proposal. A bipartisan group of Representatives has outlined plans for a bill that would do away with the Best Interest Contract requirements and other troublesome aspects of the DOL proposed rule. Several other legislative fixes are also in the works.
As our advocacy focus turns to Congress, we need your help! NAIFA’s Congressional Conference is our premier grassroots advocacy event. Each year hundreds of NAIFA members come to Washington and speak to members of Congress with a unified voice about the issues that most affect their businesses and clients.
Registration for the May 24-25, 2016, Congressional Conference is now open. The first 500 NAIFA members to register may be eligible for a reimbursement of up to $350 to cover their travel and lodging expenses. Visit the Congressional Conference website to register and for reimbursement eligibility requirements.
I look forward to visiting with members of Congress and telling them about the important work you are doing for your clients. I hope you will join me. Let’s flood Capitol Hill with NAIFA members!