In the News

Title

DOL Rule Is Seismic Shift For Advisors

Document Type

Article

Publication Date

5-23-2017

Abstract

Labor Secretary Alexander Acosta’s announcement that the new fiduciary rule will go into effect June 9 as planned will dramatically impact the lives of financial advisors who deal with retirement plans, according to advisors, lawyers and consultants.

Full implementation of the rule for broker-dealers and advisors is still set for Jan. 1, but the portions effective June 9 represent a seismic shift for many advisors, who have been preparing for months, industry insiders say.