Partial delay of fiduciary rule leaves investment firms in limbo

Source: Christian Hancey & Jenny Holmes, Pensions & Investments

Don't be fooled by a quick read of the headlines announcing delays. The fiduciary rule became effective on June 9, and many of its key requirements are now in force.

Now, most advisers providing individualized recommendations to a retirement investor (for compensation) are subject to fiduciary standards of conduct, even for advice provided on a one-time basis. For example, when an adviser is speaking with a retirement plan participant about rolling over plan assets into an individual retirement account, that adviser will have to put the participant's interests first, avoid conflicts of interest, and charge no more than a reasonable fee. That often wasn't the case previously.

Read Full Article: Partial delay of fiduciary rule leaves investment firms in limbo

 
 

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