NAIFA Vice President of Securities and State Government Relations Gary Sanders features prominently in a Life Insurance Selling article on the different approached the Department of Labor and the Securities and Exchange Commission are taking as they consider whether to imposed fiduciary standards on financial professionals.
Sanders spoke about comments that NAIFA is preparing in response to an SEC request for information. “Our comments will … focus on the value that registered representatives of broker-dealers provide to retail customers, and emphasize that any SEC fiduciary rule should not do anything to reduce services or increase costs for [middle-market investors] who have a crucial need for investment products and advice.”
Sanders added: “[W]e’re confident the commission will take the time they need to develop a standard-of-care rule that’s in the best interests of all investors, including those in the middle market, and that acknowledges and respects the existence of different business models which currently provide services and advice to investors.”
Read the complete article online.