DOL Fiduciary News: April 13, 2016
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What Investors Really Want From the Fiduciary Rule
This past week the American investing public learned quite a bit about what the Obama administration wants with its new fiduciary rule, and what some financial professionals want instead.
(http://www.money.usnews.com)
How will the DOL enforce its fiduciary rule?
InvestmentNews; Apr 12, 2016 @ 2:07 pm
The Labor Department released the final version of its fiduciary rule last week, bringing about major structural changes for how investment advice is delivered in retirement accounts. Yet arguably the most important and challenging step in the process — enforcement of the new rule — is just beginning.
(http://www.investmentnews.com)
Financial planners foresee little disruption to practices from DOL fiduciary rule
InvestmentNews; Apr 11, 2016 @ 5:21 pm
Three investment advisers who charge fees, commissions and by the hour for their services said on Monday that the recently finalized Labor Department rule on investment advice will not disrupt their businesses.
(http://www.investmentnews.com)
RIAs expect to make some changes to comply with DOL fiduciary rule
InvestmentNews; Apr 11, 2016 @ 4:18 pm
Brokers aren't the only ones who will have to make changes as a result of the “best interest” rules on retirement advice that the Department of Labor issued last week. Changes are also in store for registered investment advisers.
(http://www.investmentnews.com)
The Fiduciary Rule Impact on Compensation Explained
InsuranceNewsNet: April 11, 2016
Now that the Department of Labor has finally published its fiduciary rule, it is time for advisors and firms to consider how their lives will change.
(http://www.insurancenewsnet.com)
Planners: Fiduciary rule requires minimal business changes
ThinkAdvisor 4/12/2016
Three financial planners, all current or former leaders of Financial Planning Coalition member groups, say the Labor Department's final fiduciary rule requires few changes to their business practices and allows them to serve clients with all levels of assets. A coalition official praised the final rule, the department's open process and the extended timetable for compliance. (http://www.thinkadvisor.com)
Brokerages Need to Tread Carefully in Fee Push
WSJ 4/12/2016
Some brokerages were planning to shift commission-based retirement accounts to fee-based accounts to comply with the Labor Department's fiduciary rule. But language in the final rule blocks that move if it isn't in the client's best interest. (http://www.wsj.com)