Early DoL Fiduciary Rule Roundup
The Department of Labor on Wednesday rolled out its long anticipated rule aimed at altering how the financial industry doles out retirement advice. The Obama administration is hoping to bring investors a bit more transparency around the line that has become blurred between salesperson and advisor.
The finance industry is riddled with high-fee, conflicted advice that often incentivizes selling products over exercising a duty of care. My initial impression is that the final rule is watered down, but is a big positive for investors and a step in the right direction. Only time will tell.
Here’s a quick roundup of links regarding the ruling.
FAQs Regarding the DoL Fiduciary Rule – Investment News
FAQs: Conflict of Interest Rulemaking – Department of Labor
The ABCs of the DOL Fiduciary Rule – ThinkAdvisor
Three Cheers For The New Rule Protecting Retirement Investors – Charlie Ellis via Forbes
A New Day for Investors: The Fiduciary Rule Is Here – @jonstein, Betterment