(CASTLE ROCK, COLORADO JANUARY 26, 2015) Castle Rock Investment Company has announced its support of the Department of Labor’s (DOL) effort to more broadly define fiduciaries as “those persons who render investment advice to plans and IRAs for a fee.” By amending the regulatory definition of the term “fiduciary,” the DOL will require all investment advice to adhere to the fiduciary standard set forth under the Employee Retirement Income Security Act. “The DOL’s proposal would ensure that all financial professionals have a legal obligation to put the interests of their customers first when offering retirement advice,” said Michele Suriano, President of Castle Rock Investment Company. “We must close this ‘Retirement Advice Loophole’ to better protect Americans from conflicts of interest that result in their retirement accounts being drained by hidden fees and second-rate investment options.”
About the “Save Our Retirement” Initiative
Supporters of the broader fiduciary standard, including AARP and other consumer groups, recently launched the “Save Our Retirement” initiative. The campaign, which includes a website with a petition for supporters to sign, urges visitors to “join the campaign to get important updates as the Department of Labor tries to strengthen rules that apply to retirement investing.”
About Castle Rock Investment Company
Castle Rock Investment Company is an entirely woman-owned, SEC registered investment adviser currently serving plan sponsors in Colorado, Idaho, Nebraska, and Texas. Castle Rock focuses on workplace retirement plans to help plan sponsors meet their fiduciary obligations and increase retirement readiness for their employees. The firm puts its clients’ interest first by maintaining its independence from compromised business practices.
For more information, please contact Castle Rock Investment Company at (303) 719-7523, or via e-mail at info@castlerockinvesting.com.
Castle Rock Investment Company, formed in 2006, is an independent woman-owned SEC-registered investment adviser located in Castle Rock, Colorado. We specialize in individual financial plans and qualified service plans.