Week ending April 7th, 2017 NOTE FROM THE EDITOR Happy Friday, readers! The biggest news of the week was the decision by the Department of Labor to delay the new fiduciary rule by 60 days. Thus, rather than taking effect this coming Monday, April 10, it will take effect on Friday, June 9. However, given the tenor of the Trump administration and the president’s predilection for fewer regulations, it is possible that it could still be shelved altogether. That could potentially be very unfortunate for investors, as a coalition of consumer groups maintains that without the fiduciary rule, investors are being overcharged by unscrupulous advisers to the tune of $17 billion a year.
Editor's choice Compliance DOL Delays Fiduciary Rule by 60 Days The Department is making the move in response to the Trump memorandum. Read more > Compliance Consumer Groups Vow to Continue Fighting for Fiduciary Rule Their “Retirement Ripoff Counter” shows that without the protections of the fiduciary rule, investors are losing $1.9 million an hour, $46 million a day—and $17 billion a year. Read more > Compliance Coalition Deploys to Defend Retirement Savings An organization comprised of industry advocates and businesses is set out to expand Americans’ access to retirement plans and protect the system’s retirement tax incentives. Read more > Compliance EBRI Calls for Auto Plan Portability If workers could automatically roll their 401(k) plan over to a new employer, the Institute says this could generate an additional $2 trillion in retirement savings. Read more > Practice Management B/Ds That Support Advisers Boost Adviser Productivity Their practice management programs also help attract and retain advisers. Read more >
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