Quick Hits: First Lawsuit Against DOL | Unique Appointments | Unfavorable Federal Agencies

Oldie but a goodie around here at AE, but good reminder if we got away from doing “unique” appointment cards:

Here are your Quick Hits:

New DOL Fiduciary Rule Hit With First Lawsuit

  • New DOL Fiduciary rule has been the talk of the street, but this is the first Lawsuit to counter it.
  • “In its new suit, FACC said that it “will seek a preliminary injunction asking the court to stop the new rule from taking effect during the pendency of the case” against Labor’s PTE 2020-02 on rollover advice.”
  • The DOL’s new rules, finalized on April 23, “are yet another assault on the financial services industry — especially insurance agents — that only serve to create more cost and confusion for American consumers,” FACC said.

How Americans Feel About Federal Government Agencies

  • This is a fun one to share.
  • I’m sure these numbers swing drastically depending on what state the person is in, but fun to look at regardless!

Americans saw their net worth soar to records last year thanks to the stock market

  • “US household net worth hit a record $156.2 trillion in 2023, per Fed data.”
  • “The value of stocks held by Americans climbed by $7.8 trillion in 2023.”
  • “The gains have been driven by huge enthusiasm around artificial intelligence since Nvidia’s strong fourth-quarter earnings report, as well as continued hope that the Fed will soon lower interest rates.”

Quote I’m chewing on:

“When force of circumstance upsets your equanimity, lose no time in recovering your self-control, and do not remain out of tune longer than you can help. Habitual recurrence to the harmony will increase your mastery of it.” ― Marcus Aurelius