Skip to content

DOL Fiduciary News: October 20, 2017

Please Note:

These links will take you directly to the homepage of the website that features the article.

To reach the article directly, copy and paste the article title into the search feature on the homepage of the publication website.


Best Rollover Practices For Advisors To Avoid Triggering DOL Ire

Financial Advisor; October 19, 2017

With so much still up in the air, “focus on what we do know the Department of Labor is expecting from anyone doing 401(k) rollovers,” Steven Niehoff, chief operating officer of the Pension Resource Institute, told attendees at the National Society of Compliance Professionals annual conference in Washington, D.C.

That means paying particular attention to the requirements of the DOL’s fiduciary rule that did go live June 9 -- the new fiduciary standard and the need for advisors to comply with impartial conduct standards. However, the full requirements of the rule won't go into effect before January 1, and could be delayed.

Advisors and reps who want to roll over client accounts from a 401(k) into an IRA should pay particular attention to documenting:

  • Who the client is.
  • What their goals are.
  • A comparison of each client’s existing plan to the IRA rollover recommendation.

(https://www.fa-mag.com/news)

Did you accomplish the goal of your visit to our site?

Yes No

© 2024, LL Global, Inc. Unauthorized use, reproduction, or reprinting of this material (or any portion thereof) for any purpose without express written permission from LL Global (LIMRA and LOMA) is strictly prohibited, including, without limitation, use with any current or future form of an Artificial Intelligence tool or engine.