Dealing With The New Fiduciary Standard

Dealing With The New Fiduciary Standard

Under the new rules, many advisors—both registered representatives and RIAs—may now find themselves carrying the label of an ERISA fiduciary.

The financial services industry, including advisors, has watched closely as the fiduciary standard has moved closer to becoming a reality. The most recent of these shifts—and perhaps the most important to date—is the Department of Labor's rule change announced in early April that expands the definition of investment advice and broadens the scope of advisors who may act as a fiduciary. This has implications for firms that conduct retirement plan business.

Audience: Advisors, Broker-Dealers, Investment Managers, Platform Providers, Registered Investment Advisors, Wealth Managers