DOL Fiduciary News: September 7, 2016

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Index: DoL rule is changing advisers’ business planning

Financial Planning; September 02 2016, 9:50am EDT

Even as clients' risk appetite increased, regulatory changes have left some advisers worrying about the future of their practices.

The Retirement Adviser Confidence Index, Financial Planning's monthly barometer of business conditions, inched up half a percentage point to 52.8, driven higher in part by increasing client confidence in market conditions.

"Clients’ optimism has climbed with the market following the brief British scare," a planner says.
(http://www.financial-planning.com)

Eye on the future: Futurity First readies advisors for DOL rule 

LifeHealthPro.com; September 7, 2016

As the Department of Labor phases in its new fiduciary rule, advisors operating in the retirement arena will be facing twin challenges to their practices: (1) a compression and overall reduction in commissions paid on product sales; and (2) an increase in DOL-related compliance costs. Keeping these changes to a manageable minimum may well depend on business partners — insurers, broker-dealers and independent marketing organizations — from whom they’ll be sourcing product. 

One IMO that’s endeavoring to provide a seamless transition to a post-fiduciary regime is a Futurity First Financial Corp., one of six (out of more than 350) IMOs that have applied to become a financial institution with the DOL’s Office of Exemption Determinations.
(http://www.lifehealthpro.com)