The Insured Retirement Institute (IRI) is set to launch a series of training programs designed to educate financial professionals and
home office personnel about the Department of Labor (DOL)’s new fiduciary rule.
IRI will be leading the training initiative in collaboration with RegEd, a provider of compliance solutions.
“Training will be one of most critical parts of implementing
the DOL’s fiduciary rule, which is the most massive regulatory change to impact
the industry in decades,” says Cathy
Weatherford, IRI president and CEO. “Our industry-leading training,
which has been developed with the support of more than 800 industry
professionals who are participating on our implementation task force, will help
support our members and financial advisers who must prepare to implement the
rule and operate under these new requirements. We are proud to be able to
support financial professionals and home office personnel through this process
by providing them with clear, streamlined and digestible training.”
The program will examine the DOL rule at each stage of the
investment transaction lifecycle, providing valuable insights to financial advisers, call center
personnel, branch managers, back-office operations professionals and
compliance officers, among others. The training is designed to be applicable to
all investment products, including annuities and mutual funds.
The first course in IRI’s series of training modules will
provide an overview of the DOL rule and the Best Interest Contract (BIC)
Exemption; explain what it means to be an ERISA fiduciary under the rule; explore how the rule will impact adviser compensation and advisers’ existing
client relationships; and describe the new regulatory landscape for level-fee
advisers, rollover recommendations and proprietary products. Additional modules
will be coming soon, including a two-part course on implementation of the
rule’s best interest standard and a course focused on the responsibilities of
broker-dealer and insurer home office personnel.
For more information on IRI’s training initiative, contact
Eric Clements with RegEd at firstname.lastname@example.org.