02.19.19
Advisors Defend Active Investment Management on Capitol Hill
by: Mark, Jr. Schoeff
To convince lawmakers not to lean toward passive products as the default investment in retirement savings legislation, members of the Investment Adviser Association (IAA) met with congressional staff earlier this month regarding a white paper co-written by Rep. Jim Himes (D-CT). The white paper is the basis for the Portable Retirement and Investment Account (PRIA) and outlines two programs: PRIA Basic, which would be invested in a target date fund, and PRIA Choice, which would offer a wider investment range. "We're not looking to take away anybody's choice," said Himes. "If you want active management, or if you want to trade, there will be a vehicle for your to do that."
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