Many of you have been hearing or reading in the news the discussion on what is referred to as the “Fiduciary Rule.” A version of the Fiduciary Rule was originally proposed in 2010 by the Department of Labor (DOL), then quickly withdrawn amid great protest in the financial industry. Essentially, the concept is and was to overhaul ERISA (Employee Retirement Income Security Act)—originally enacted in 1974 to regulate the quality of financial advice surrounding retirement. In 2015, President Obama ... [Continue Reading]
DOL Fiduciary Ruling
Articles and resources related to DOL Fiduciary Ruling.
The final ruling from the Department of Labor (DOL) on the long awaited regulations requiring advisors to act as "fiduciaries" was announced last week. The ruling basically elevates the responsibilities of all financial professionals to put clients' interests first and to increase disclosures to better ensure investors are getting appropriate, unbiased, and trusted advice.The document itself is quite long and complex - 1,200 pages. While it will take time to fully digest, we do already know ... [Continue Reading]