FOR IMMEDIATE RELEASE Contact: Katherine Knight Patterson
January 8, 2020 (703) 641-8142
AALU Statement on Massachusetts Proposed Fiduciary Standard of Conduct
AALU CEO responds to Massachusetts proposed fiduciary regulation with 12 leading industry association leaders.
WASHINGTON, D.C.—AALU President and CEO Marc Cadin today released the following statement on the Proposed Fiduciary Standard of Conduct for Massachusetts Broker-Dealers, Agents, Investment Advisers, and Investment Adviser Representatives:
“The revised Massachusetts proposal, as written, would undoubtedly cut off much-needed advice and access to retirement savings and financial services for hard-working individuals and families across the state,” said AALU CEO Marc Cadin. “Broker-dealers and other financial security professionals would face unworkable state rules that will directly conflict with the important work of the SEC and the NAIC. AALU strongly urges the state of Massachusetts to take a hard pause and work with stakeholders to significantly modify this proposal to avoid harming the very consumers it is intended to protect.”
Read the full letter here.
Since 1957, AALU, the Association for Advanced Life Underwriting, has been the leading organization of financial professionals who provide life insurance and retirement planning solutions for individuals, families, and businesses. AALU has a rich history of success with a single focus on the issues impacting life and annuity products, and the clients its members serve. Headquartered in Washington, D.C., AALU is committed to providing its members with the essential tools and services required to help grow their businesses, serve their clients, and protect the financial and retirement security of the American people. AALU announced on July 29, 2019, that they will be joining with GAMA International to form a new organization representing the financial security profession.