Navigating the DOL's Fiduciary Regulation

Pershing

Navigating the DOL's Fiduciary Regulation

The June 9 DOL Rule Applicability Date Is Here. Now What?

June 9 has arrived, which means important elements of the fiduciary standard are effective and may have a significant impact on your business.

It is critically important to understand the change in the definition of what it means to be a fiduciary providing investment advice because it dramatically broadens its application and raises the standard of care for retirement investors. This change is likely to have significant near-term impact on your business, despite the fact that certain provisions have been pushed to January 2018.

Throughout the rule-making process, our teams have been personally invested in supporting our clients as firms navigate the impending changes. The more Pershing can understand your strategy, the better we can align the solutions we have developed to help you. Please contact us to hear more about we can help support your strategies.

The DOL Fiduciary Rule Journey

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

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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