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The Department of Labor today unveiled its much-anticipated rule proposal extending a fiduciary standard to thousands of brokers and advisers providing investment advice to clients on retirement accounts – but details on enforcement were still forthcoming.
The new standard would cover any adviser or broker receiving compensation for providing investment advice to a retirement plan sponsor, plan participant or IRA owner.
Andrew Welsch is a former managing editor of Financial Planning.
Suleman Din is technology editor of American Banker and Financial Planning. Follow him on Twitter at @sulemandn.
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At a time of never-ending health benefit cost increases and fiduciary lawsuits, it has never been more important to ensure that claims are paid correctly.
Some ultrahigh net worth clients would be affected by a change to retirement plan contribution and distribution rules that's under consideration in Congress.
A Deloitte analysis shows that alternative allocations — to private equity, private credit and other vehicles — in DC plans could grow quickly.
By assessing the needs of various employee populations within a workforce, benefits can be constructed to be more independent and effective.
Industries that rely on independent contractors should review potential impacts of the new rule and make sure their independent contractor documentation is squared away.
