Tell your members of Congress: Close the Loophole
Wall Street is lining its pockets with our retirement savings.
Here's the outrageous truth: thanks to a legal loophole, financial advisors are free to recommend retirement investments with expensive fees and low returns – while they receive big kickbacks. That means your retirement savings grow smaller, while their wallets keep getting bigger and bigger.
And we're not talking about a few dollars here and there. This bad advice could cost hard-working Americans like you nearly one quarter of your retirement savings.
It's time to say enough is enough. A new proposal could close this loophole, but already some in Congress are ready to side with Wall Street, instead of working to protect your savings. We need to show our elected officials that we're watching – and counting on them to protect our hard-earned retirement savings. Tell Congress: Stop Wall Street from shrinking Americans' retirement savings.
For decades, this loophole has let some bad actors on Wall Street tell you where to put your money based on what's best for their own bottom line…even if it means your retirement savings go down the drain. After working for years to earn a secure retirement, you deserve to know that your nest egg will be protected, not exploited by Wall Street.
The U.S. Department of Labor is considering a new standard that would hold anyone who gives investment advice genuinely accountable for helping you choose the best investments for you and your family. But already some in Congress are pushing bills that would protect these bad advisors and make it impossible to enforce these new standards.
Wall Street and its Congressional allies have stopped attempts to close this loophole before – we can't let them get away with it again.
Make sure your members of Congress know where you stand. Send them a message right now, and tell them to support closing the retirement advice loophole.
I know we can win this fight to protect the retirement savings we've earned, but it's going to take a lot of pressure to make it happen. After you send your message, make sure to forward this message to your friends and family too.
Thanks for speaking out at this critical moment. Your voice will make a difference.