Comment from Cetera Financial Group

The large majority of our representatives are independent contractors. They offer investment related services to customers through Cetera, but many of them also offer other non-securities products such as insurance or professional services such as tax preparation. Their ability to best serve their clients depends on continuation of their status as independent contractors and how independent contractor status is determined, and we are vitally interested in this issue as a result. Some of our comments below will refer to independent financial advisers and how they operate, but application of the principles set forth in the NPRM should be consistent across industries. In our business and many others, the ability of workers to provide the best outcomes for both themselves and their customers depends upon their appropriate classification as independent contractors.

Comment ID: WHD-2020-0007-1764 | 26-Oct-20

Categorized under Flexibility

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