While the Department of Labor’s 60-day delay in the implementation date of the fiduciary rule must be a sigh of relief to many in the industry groups — particularly firms woefully unprepared to shift their businesses to the changing environment — plan sponsors, employees and advisers should only take the delay in stride.
The delay in the rule won’t change the desire of plan sponsors and their employees to be confident that their financial adviser is exclusively acting in their best interest at all times, no matter what the delay in implementation may yield as far as final regulations are concerned. Truly, it is business as usual.
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