The Department of Labor Fiduciary Rule will go into full implementation on January 1, 2018. During the partial enactment period, advisors to retirement investment accounts must comply with the impartial conduct standards. These standards specify that advisors must:
Give advice that is in the retirement investor's best interest
Charge no more than reasonable compensation
Make no misleading statements about investment transactions, compensation, and conflicts of interest
While there won’t be much federal enforcement now, the industry anticipates that there will be, and soon. What can you do now to ensure you’re ready for the future?
If you're looking to migrate your retirement accounts from commission-based brokerage to fee-based advisory, contact us for a consultation.
When you look at the language, it goes beyond best interest. The language in the DOL is really a different standard.
It's a trust standard.
-Rob Klapprodt, President at Vestmark
We have helped our clients transition over 600,000 brokerage accounts into fee-based advisory programs, fully automating key investment processes to scale their compliance efforts. We are eager to help you, too.
DOL Fiduciary Rule Timeline Infographic
Learn the steps you can take now during the phased implementation period to prepare for the fiduciary rule's final enactment on Jan 1, 2018.
Q&A: DOL Fiduciary Rule
Rob Klapprodt, President at Vestmark, discusses the phased implementation of the fiduciary rule and the technology needed for a fee-based advisory structure.
What Is the DOL Fiduciary Rule
Wealth Management Trends
Our website offers a quick DOL Fiduciary Rule 101.
Fiduciary Focus: The DOL Rule from All Angles
InvestmentNews offers a database of all DOL Fiduciary Rule FAQs.
Conflict of Interest FAQ
Department of Labor
The DOL released a new set of FAQs for the transition period to offer clarification.