Early DoL Fiduciary Rule Roundup

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

U.S. Unveils Retirement-Savings Revamp, but With a Few Concessions to Industry – WSJ

The ABCs of the DOL Fiduciary Rule – ThinkAdvisor

Three Cheers For The New Rule Protecting Retirement Investors – Charlie Ellis via Forbes

Customers First’ Becomes the Law in Retirement Investing@tarasbernard

A Few Quick Thoughts on the DoL Rule@aaronklein, Riskalyze

A New Day for Investors: The Fiduciary Rule Is Here – @jonstein, Betterment

Labor Department Softens Fiduciary Rule@politicomahoney, Politico

Will the Fiduciary Standard Actually Help Consumers?@Dull_Investing

Further reading…

Is Your Advisor Conflict-free?

Tim Brennan

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