This comment letter responds to the U.S. Department of Labor’s proposed rule addressing the definition of fiduciary and the conflicts of interest in the retirement savings market. Woodstock Institute supports the DOL’s proposed rule to clarify that financial advisers and their firms must provide advice and guidance that is in the best interest of the investor, and to avoid conflicts of interest. The letter highlights the significant changes that have taken place in the financial market since the rule was first written in 1975. The proposed changes institute important and necessary consumer protections without eliminating an adviser’s ability to receive common forms of compensation without conflicts of interest. We encourage the DOL to further strengthen the rule by banning mandatory arbitration clauses and allowing investors their right to a trial.