Obama imposes more regulations on financial advisers
The Washington Times discusses the Department of Labor's fiduciary rule with John Berlau.
“The fiduciary rule is like Obamacare for your IRA and 401(k),” said John Berlau, a financial policy specialist with the Competitive Enterprise Institute. “If you like your brokers and investments, you might not be able to keep them.”
Mr. Berlau said the regulations will create a “guidance gap” by deterring companies from serving middle-class investors, and he estimated the result could cost $80 billion in lost savings annually.
Read the full article at the Washington Times.