March 17, 2026
Finseca released the following statement after today’s federal court ruling ending the Department of Labor’s (DOL) Fiduciary Rule:
“Today’s court ruling is a major win for every American saving for retirement,” said Finseca CEO Marc Cadin. “The Fiduciary Rule placed barriers to Americans trying to save for retirement. Removing this regulation makes it easier for retirement savers to access the sound professional advice that creates results.”
BACKGROUND ON RULING:
- The federal court vacated the DOL’s fiduciary regulation following the Department’s agreement to the joint trades’ motion for final judgment.
- The fiduciary regulation exposed financial professionals to new restrictions on commissions and other forms of compensation, expanded legal liability, and required them to review their arrangements with carriers and intermediaries.
- When a similar fiduciary rule was implemented in 2016, a Deloitte study found that more than 10 million American workers’ accounts — representing approximately $900 billion in retirement savings — lost access to professional financial guidance.
- An Ernst & Young study shows that accessible, affordable, and high-quality advice from financial planning professionals is the key to creating growth and saving for retirement.
BACKGROUND ON FINSECA:
At Finseca, we know that financial security improves people’s lives and protects their livelihoods and future wellbeing. We are rising to the challenge of increasing financial security for all. Finseca represents the men and women of the financial security profession who dedicate themselves to delivering financial security to their clients every day.
