Fiduciary Rule

The DOL’s rule is good news for plan sponsors, but many are still confused, says registered investment adviser Robert Lawton.

As defined in the new rule, investment advice includes recommendations to an employee benefit plan, plan fiduciary, participant or beneficiary, or an IRA, HSA, or education savings account owner.

Determining what is actually ‘in the best interest’ of a client is a gray area that may mean a greater risk of litigation for advisers and higher fees for small investors.

As defined in the new rule, investment advice includes providing investment or investment management recommendations to an employee benefit plan, plan fiduciary, participant or beneficiary, or an IRA, health savings account, or education savings account owner.

Determining what is actually ‘in the best interest of the client’ is a gray area that may mean a greater risk of litigation for advisers and higher fees for small investors.

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

Retirement plan advisers must rethink how they get paid, which could lead to a leveling of costs for plan sponsors.

Top DOL official counters that the new regulations will result in “major reform," while not ruling out additional government action.

Under the DOL’s new standard, all retirement plan advisers — and not just some — will have to put their clients’ interests ahead of their own.

In light of the DOL’s new rule, some advisers will have to define a new relationship with employers and may ask for additional fees.

Plan sponsors and advisers are still able to provide generic facts about retirement savings and 401(k) plans without being subject to the DOL’s new rule.

Employee benefit brokers weigh in on how the new regulation will impact their business and that of their employer clients.

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.