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DOL Fiduciary News: January 2, 2018

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What to Watch on the Fiduciary Front in 2018

The Wall Street Journal; Dec. 29, 2017 7:00 a.m. ET

The federal rule meant to protect retirement savers from conflicted advice was dealt a setback in 2017 as its full implementation was delayed. But consumers, state regulators and parts of the advisory industry have embraced its ideal of requiring retirement advice to be in investors’ best interest.

...In March, the Labor Department officially delayed the regulation’s originally planned effective date by 60 days, to June 9, as it launched its review. But new Labor Secretary Alexander Acosta concluded that “respect for the rule of law” precluded further delay.

...Here are a few things to watch in 2018 as consumer awareness grows, the wealth-management industry adapts and regulators react:

 Industry Buy-In

As of June 9, stewards of retirement savings have been required to put clients’ interests before their own. But while the best-interest standard went into effect, the delay in key provisions of the rule—including a best-interest contract and certain client disclosures—effectively makes it unenforceable.

10 (soft) predictions for retirement in 2018; December 27, 2017

Here are 10 predictions for the retirement industry in 2018. Admittedly, they aren't jaw-dropping. But they are logical.

1. 401(k) industry uses tax reform to nudge contributions...

2. Impartial conduct standards add momentum to passive investing in 401(k)s...

3. Clean-share safe harbor...

4. Open MEPS...


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