GOBankingRates: 10 Important Ways the 2016 Election Could Affect Your Retirement
Author: Siân Killingsworth / 21 Oct 2015
Chad Parks interviewed by GOBankingRates on the 2016 election as it affects retirement.
Chad Parks, Founder + CEO of Ubiquity Retirement + Savings, gives his insights on how your retirement could be affected in the 2016 election.
If passed, a rule currently proposed by the Department of Labor would hold brokers that work with 401(k) participants or individual retirement account investors to a fiduciary standard, which means that they would need to put a client’s best interests first rather than simply putting the client in merely suitable investments — ones that could potentially net them commissions.
“If it’s a Democrat, they’ll probably keep it, but if it’s a Republican, they’ll probably kill it,” says Parks.