CFP Board Statement on DOL’s Dismissal of Retirement Security Rule Appeal

Every worker and retiree deserves the chance to have a financially secure and dignified retirement. The Retirement Security Rule would close critical regulatory gaps by broadening the definition of fiduciary advice under the Employee Retirement Income Security Act (ERISA) and requiring financial professionals to provide retirement investment advice in their clients' best interests.

With Americans increasingly responsible for their own retirement savings, the need for trustworthy, professional guidance has never been greater. CFP Board research overwhelmingly shows that when Americans work with a financial professional for retirement advice, they desire and expect that person to act in their best interests - an obligation CFP® professionals already commit to CFP Board to uphold.

It's well past time for federal regulation that aligns retirement investors' expectations with the protections they deserve.