Dear Secretary Scalia and Assistant Director Wilson:
We write today regarding the “Improving Investment Advice for Workers and Retirees” proposal recently issued by the Department of Labor.
We appreciate the Department’s intention to preserve diverse investment advice arrangements as compared to the 2016 Fiduciary Rule proposed by the prior Administration, as well as the Department’s goal of harmonizing industry regulation in order to protect consumers. However, we have heard concerns from Iowans regarding the impact that this proposed rule would have on insurance agents and their clients.