DOL Fiduciary News: June 15, 2016

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With anti-DOL fiduciary rule lawsuits, industry organizations' actions speak louder than words Investment News; June 14, 2016

Just before explaining why they filed a lawsuit to kill the DOL fiduciary rule, every industry trade group is careful to assert that they, in fact, support its premise.

Yes, they want to do away with the Labor Department measure that would require financial advisers to act in the best interests of their clients in retirement accounts, but it would be hard for them to win public favor arguing they just don't want to have to put clients first. (http://www.investmentnews.com)

Heads up, RIAs: Fiduciary rule will change your practice, too Financial Planning; June 14, 2016

Many advisers who already operate under a fiduciary standard may be un der the impression that the new Department of Labor regulations won’t affect their business.  That is not the case, according to Morningstar Senior Equity Analyst Michael Wong, who joined an expert panel debating the impact of the rule at the Morningstar Investment Conference. (http://www.financial-planning.com)

Grappling with fiduciary, active-passive debate and more at Morningstar Financial Planning; June 14, 2016

CHICAGO – Advisers may tell their clients about the perils of overreacting to events, but advisers themselves may find the world passing them by if they don’t react aggressively to industry developments.

That was the overarching message of an expert panel titled “Practical Advice for an Evolving World” at the annual Morningstar Investment Conference. (http://www.financial-planning.com)