Navigating the DOL's Fiduciary Regulation

Pershing

03/02/2017

Navigating the DOL's Fiduciary Regulation

The clock on potential changes to the DOL Fiduciary Rule officially began on February 3, 2017 with a Presidential Memorandum. What might we see next? View our timeline.

2017 DOL Fiduciary Rule Timeline

Pershing Responds to the DOL Proposal for 60-Day Delay to the Fiduciary Rule

The proposal by the Department of Labor to delay the Conflict of Interest Rule for 60 days is not unexpected.

However, regardless of the fate of the rule, the fiduciary mindset is here to stay.

In the near term, some firms may look to delay efforts that are focused on specific requirements of the rule. That said, many of our clients are committed to the transformation of their business around a fiduciary standard of care that may include changes to their business model, operating model, and addressing conflicts of interest.

Our clients continue to look to us for our suite of forward-looking, flexible solutions made available to them in order to support their long-term business transformation strategies.

Since the Department of Labor's (DOL) Conflict of Interest rule was released in April, Pershing has focused on working closely with clients to help prepare for this historic and industry-changing regulation. We’ve developed key resources to help firms and advisors navigate the rule and its impact. Check back regularly for new items.

Client Guides

Fiduciary Rule Considerations: Getting Started Quick Guide for Firms [PDF]—Geared toward the home office, this guide provides a framework for how to address the DOL's final fiduciary rule.

Client Considerations for Defining and Executing Your DOL Strategy [PDF]—This home office guide provides a high-level overview of considerations for defining and ultimately executing your DOL strategy.

Complying With the Best Interest Contract Exemption [PDF]–This home office guide provides a high-level overview for understanding the Best Interest Contract Exemption.

The New DOL Fiduciary Rule: Six Things Advisors Should Do Today [PDF]—This advisor guide offers guidelines to help retain high-value clients, position their business for future growth and potentially increase efficiency and productivity in the new regulatory landscape.

Whitepapers

Review of the Department of Labor's (DOL) Final Definition of Fiduciary: Key Points IBDs, RIAs and Advisors Need to Know [PDF]—Written in collaboration with Thomas Roberts, a member of Groom Law Group's Fiduciary practice group, the article aims to provide an overview of key points introducing broker-dealers, RIAs and advisors need to know about the DOL's final rulemaking package on the definition of fiduciary.

Dealing With the New Fiduciary Standard—Pershing’s co-sponsored whitepaper is based on a survey of retirement plan specialists who are involved in the sale and servicing of retirement plans. It helps to clarify the roles and responsibilities of plan advisors—and offers a roadmap to preparing for change.

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