DOL Fiduciary News: May 10, 2016
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Fiduciary Rule Hogs Spotlight During 1Q Earnings Calls
InsuranceNewsNet; May 9, 2016
It’s been a momentous couple of weeks for insurance companies and their distributors.
Last month, Wall Street analysts and industry observers were watching to see how first-quarter stock market volatility would affect “equity-sensitive” life and annuity insurance companies and their bottom lines.
Earnings season for life insurers is complete, and now all anyone seemed to be talking about was the effect of new fiduciary rules on life and annuity contracts. This is a development that will affect everyone and anyone in the retirement advice business.
(http://insurancenewsnet.com)
Market turmoil poses risk to brokers going fee-based in wake of DOL fiduciary rule
InvestmentNews; May 9, 2016 @ 12:51 pm
Broker-dealers are examining their revenue streams as they seek to adapt to the Labor Department's fiduciary rule amid heightened concerns about market volatility and regulation.
Many see the new rule, which requires advisers to act in the best interest of clients saving for retirement, speeding up a shift toward fee-based relationships as commissions become increasingly scrutinized for conflicts
(http://www.investmentnews.com)
Volatility and Political and Regulatory Changes Surge as Concerns, Latest Fidelity® Advisor Survey Reveals
May 09, 2016 08:30 AM EDT
BOSTON -- (BUSINESS WIRE) -- Financial advisors were most concerned about market volatility in Q1 2016, according to the latest Fidelity® Advisor Investment Pulse study. Nearly 30 percent of advisors cited it as an area of focus, a significant rise from less than 20 percent in the previous quarter. Survey results also reflected advisors’ increasing attention on the election season and the Department of Labor’s (DOL) investment advice rule, as developments in the political and regulatory landscape emerged as an important consideration, taking the No. 3 spot in Q1. The latest results of the quarterly survey were released today by Fidelity Institutional Asset Management, a distribution and client service organization dedicated to meeting the investment needs of financial advisors, institutions and consultants.
(http://www.businesswire.com)
Market Turmoil poses risk to brokers going fee-based in wake of DOL fiduciary rule
InvestmentNews; May 9, 2016
Broker-dealers are examining their revenue streams as they seek to adapt to the Labor Department's fiduciary rule amid heightened concerns about market volatility and regulation.
Many see the new rule, which requires advisers to act in the best interest of clients saving for retirement, speeding up a shift toward fee-based relationships as commissions become increasingly scrutinized for conflicts.
(http://www.investmentnews.com)