In an ever-evolving fiduciary landscape, the tool aims to identify in real time issues that may put plan advisers at risk, such as the availability of lower-cost share classes.
Tag: Fiduciary adviser
The Department of Labor and the White House have seemingly agreed to extend the applicability date of the full fiduciary rule and its accompanying exemptions by another year.
Seventy-five percent say they will take on fewer accounts with $25,000 or less in assets due to increased costs.
The study suggests advisers have pared back products and services for retirement investors, and compliance with the fiduciary rule will be costly.
Today is the second and final deadline for submitting responses to the DOL’s broad RFI regarding the fiduciary rule expansion under ERISA—but late comments will also be accepted for a short time.
Context and presentation are factors
Might other states apply this fiduciary guideline to advisers?
There are certainly states that are attempting to do so, but it’s unclear whether ERISA’s preemption of state law will render their efforts toothless.
While most employers outsource administration of frozen and closed DB plans, others team with consultants to set goals, tame plan data and answer questions concerning benefit accruals.
The first of two deadlines has passed for the DOL’s information request about a potential second fiduciary rule delay, but the window is still open for advisers to address key aspects of the rulemaking.
The head of DCIO sales for Wells Fargo describes an encouraging trend in the way advisers are defining their value and assessing pricing that is fully rationalized and fair to both the client and the firm.
With its publication in the Federal Register, the DOL’s request for information regarding its implementation (or not) of the fiduciary rule is officially open for public comment.
Some firms also report handling certain rule preparations or implementation activities poorly in some ways and well in other ways.
The DOL argues it must not lose its broad authority to regulate the workplace retirement planning market—notwithstanding the fact that it may very well decline to aggressively enforce the fiduciary rule under President Trump.
The request for information asks whether the BICE and PTEs should be delayed further and whether new streamlined exemptions could be probable given innovations in the industry since the fiduciary rule was proposed.
During a hearing, Acosta claimed that previously the SEC did not work jointly with the DOL on the rule.
Eighty-three percent of advisers believe a fiduciary standard will benefit the growth of their practice, regardless of the status of the DOL rule.
Content, context and presentation are now the important factors in determining whether a particular activity represents fiduciary advice—but that could change.
The FiduciaryShield toolset launched by Redhawk aims to help advisers meet fiduciary responsibilities on behalf of IRA holders.
CFP Board released a draft of proposed revisions to its Standards of Professional Conduct for a 60-day public comment period, running through August 21, 2017.