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.