DOL Fiduciary News: March 24, 2017
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Fiduciary advocates push alternative approach to DoL rule
Financial Planning; March 23 2017, 3:35pm EDT
Fiduciary advocates are going on the offensive even as the Department of Labor's rule appears to be dying a slow death.
Investing legend Jack Bogle, the Institute for the Fiduciary Standard and a group of advisers are promoting a set of fiduciary best practices for planners to adopt.
Their efforts will help ensure investors have better access to fiduciary level advice, even if the Labor Department's rule is overturned or watered down, they say. "Whatever happens in Washington, this about doing the right thing for investors," says adviser Michael Zeuner, who is also a board member at the institute. "We think that will stand the test of time."
Washington casts uncertainty on retirement strategies, DC East speaker says
Pensions & Investments; March 24, 2017 12:01 AM
Donald Trump's election as president has created lots of uncertainty around existing and proposed regulations.
Even as speakers at Pensions & Investments' East Coast Defined Contribution Conference discussed different strategies to bolster retirement security, they were reminded of the uncertainty in Washington that could affect their plans.
Obama administration regulations that were proposed but not enacted “may be on ice,” said Geoffrey Manville, a Washington-based principal, government relations for Mercer LLC, discussing the Trump administration's stated approach to reducing new rules and reviewing existing ones.