Downside volatility has the potential to derail any investor on their path towards achieving their stated objective. For retired investors and investors approaching retirement, the impact of large investment losses is particularly devastating.
Advisors believe that plan sponsors are overwhelmed by compliance and other regulatory issues, and need more help understanding their fiduciary responsibilities. Sponsors, by contrast, do not feel they need as much support with these issues.
As we reported last month, rather than further delaying the June 9th implementation date, DOL indicated that it would release a Request for Information (RFI) seeking additional public input on any changes to the fiduciary rule.
On June 19th, President Trump announced his intention to nominate Patrick Pizzella as Deputy Secretary for the DOL, which would make him the second in command and the person in charge of the day-to-day operations and management of the Department.
Although health care reform took center stage on Capitol Hill in June, efforts to overhaul the tax code continued with congressional Republicans and the White House committed and publicly optimistic about completing a bill this year.