In the News

Title

Independent Agents Hung Out to Dry?

Document Type

Article

Publication Date

5-11-2016

Abstract

With some insurance companies balking at assuming fiduciary status under the Department of Labor's new fiduciary rule, some independent agents are wondering if they are being hung out to dry.

As a condition of receiving compensation that would otherwise be prohibited, an exemption under the “Conflict of Interest” rule would require financial institutions to acknowledge their fiduciary status and the fiduciary status of their advisors in writing.