We Don’t Need Another One-Size-Fits All Regulation
by Pete Sessions on April 6, 2016 at 2:35 PM
The Department of Labor’s proposed fiduciary rule is a misguided regulation that saddles financial planners with mountains of paperwork and restricts access to quality investment advice for more than seven million hard working Americans with retirement savings accounts. By overregulating this process, the Administration is making it virtually impossible for middle-class Americans to receive sound financial advice to make the decisions necessary to plan for their futures.
As a father and a husband, I understand the importance of planning and saving for not only your future, but your family’s future. This prohibitive rule creates unnecessary hurdles for people who want to receive financial guidance and will result in nothing but harm to American families, workers, and businesses. The Obama Administration has attempted to meddle in every aspect of our lives, and I refuse to stand by and let it interfere with something as important as the financial futures of millions of American families.