Alternative & Direct Investment Securities Association Comments on Delayed Implementation of DOL Fiduciary Rule

WASHINGTON, Feb. 3, 2017 /PRNewswire/ -- The Alternative & Direct Investment Securities Association (ADISA), the nation's largest trade association representing the non-traded alternative investment space, issued the following comment today regarding the Trump administration's directive to delay implementation of the Department of Labor's fiduciary rule.

ADISA President John Grady, said, "ADISA recognizes President Donald Trump and his administration for its decision to delay implementation of the Department of Labor's fiduciary rule. Although well intentioned, the rule, as enacted, would harm the very people it is intended to protect – retirement savers of modest means who would find themselves unable to afford professional investment advice. We encourage the president and his administration to now move forward with a thoughtful and reasonable cross agency regulatory or legislative effort to strengthen ERISA for the ultimate protection of retirement savers in a way that preserves investor choice and access to financial advice."

About ADISA

The Alternative & Direct Investment Securities Association (ADISA) is the nation's largest trade association representing the non-traded alternative investment space. ADISA's members are typically involved in non-traded real estate investment trusts (REITs), business development companies (BDCs), master limited partnerships (MLPs) and private and public funds (LPs/LLCs), 1031 exchange programs (DSTs/TICs), energy and oil and gas interests, equipment leasing programs, or other alternative and direct investment offerings. The association was founded in 2003 and has approximately 4,500 members who are key decision makers, representing more than 220,000 professionals throughout the nation – including sponsor members who have raised in excess of $200 billion in equity and serve more than 1 million investors.

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SOURCE ADISA