Preserving Independence, Protecting New Jersey Consumers

Sep 15, 2026

For over a century, New Jersey financial advisors have been committed to advancing the financial protection and security of fellow New Jerseyans – helping them create certainty for their families and businesses.

In an effort to strengthen worker protections, a recently finalized New Jersey Department of Labor rule puts this at risk and fails to account for how insurance and financial advisors actually operate.

We are licensed, regulated professionals. Many have intentionally built small businesses around the independent contractor model — not to avoid obligations, but to better serve clients. These families, their businesses, and their financial futures are directly affected by this rule.

The current rule does include exceptions for our profession, but they lack the clarity needed to prevent misinterpretation. As written, they leave room for inconsistent enforcement and unintended outcomes that could limit consumers’ ability to access independent advice. Clients trust their advisor to act in their best interest. This rule could impact that trust by limiting the options that advisors can offer.

The legislature can step in to preserve both worker protections and consumer access, following California and New Jersey’s model on this same issue. A. 1511 would do just that by establishing clear, unambiguous exceptions for insurance and financial advisors that strengthen consumer protections.

New Jerseyans navigating complex financial decisions and looking for affordable financial protection deserve continued access to independent, personalized guidance. This bill ensures they keep it.

Financial Strength