“I think that is a gross mischaracterization,” Droblyen says “Wall Street banks, brokers, mutual funds, and insurance agents are mentioned in the website, while investment advisers are not. I think that’s an important point. Investment advisers are already fiduciaries. If you subject all financial advisers to the fiduciary rule, you’re not necessarily going to increase costs. Investment advisers prove that point today.”
Eric Droblyen began his career as an ERISA compliance specialist with Charles Schwab in the mid-1990s. His keen grasp on 401k plan administration and compliance matters has made Eric a sought after speaker. He has delivered presentations at a number of events, including the American Society of Pension Professionals and Actuaries (ASPPA) Annual Conference. As President and CEO of Employee Fiduciary, Eric is responsible for all aspects of the company’s operations and service delivery.