These links will take you directly to the homepage of the website that features the article.
To reach the article directly, copy and paste the article title into the search feature on the homepage of the publication website.
Fiduciary rule: Vanguard's view on DOL delay
April 10, 2017
The Department of Labor (DOL) announced that it is delaying certain aspects of the fiduciary rule for 60 days, from April 10 to June 9.
Vanguard strongly believes that investors should always receive investment advice that's in their best interest, and those who provide investment advice should be held to a fiduciary standard. While we align our interests with our clients' interests and believe in initiatives, which support that objective, we also want the rule to be well crafted and implemented in an orderly way for the benefit of investors.
Vanguard agrees a delay will provide a helpful opportunity for the DOL to review the rule's scope and other issues that may limit investor access to investment advice. We believe a delay longer than 60 days would provide greater certainty to retirement investors and service providers. A longer delay will also allow a more orderly implementation of any changes in the rule resulting from the DOL's review of its effects on investors, as required by the President's Memorandum issued in February.
Brinker Capital rolls out DOL fiduciary rule-friendly funds
InvestmentNews; Apr 12, 2017 @ 6:06 pm
Brinker Capital, an investment management platform geared toward financial advisers, is jumping on the fiduciary-rule bandwagon by converting $7 billion worth of managed account assets into a family of 10 mutual funds.
The Destinations funds, which were officially launched in March but were seeded with managed account assets last week, will represent an average cost savings of 21% over the prior model, which used outside funds to build portfolios.
The new funds will employ virtually identical strategies as the old managed account format, but the strategies will now be registered as mutual funds and the underlying managers will act as subadvisers.