Fiduciary Rule

Retirement plan advisers must rethink how they work and get paid, according to benefits attorneys and industry insiders.

Broad in scope, the final DOL ruling favors plan sponsors, but also puts pressure on them to adjust to new industry realities.

Retirement plan industry experts are greeting the Department of Labor’s plans, which will force employers to be more cautious when hiring advisers, with a mix of caution and optimism.

Some advisers are calling it the most sweeping regulatory reform of the retirement industry in 76 years.

Plan sponsors should stand their ground to discourage plaintiffs from pursuing more lawsuits, says one expert.

With the final rule about to be released, here’s why advisers may regret delaying their preparation for the new regulation.

Labor Secretary Thomas Perez and other political luminaries are set to announce the regulation that many believe could usher in unprecedented change in the financial services industry.

Lawsuits can’t be avoided, so advisers should focus on helping clients improve their processes, one expert says.

The DOL’s impending fiduciary rule will accelerate employers’ move toward vetting for experienced brokers, one expert says, adding that a formal process would help plan sponsors better spot suitable firms.

The DOL’s impending fiduciary rule will accelerate employers’ move toward vetting for experienced brokers, one expert says, adding that a formal process would help plan sponsors better spot suitable firms.