Halloween is here and everyone’s talking about spooky creatures, costumes, trick-or-treating and scary movies. However, if you ask a financial advisor who works with retirement plans what spooks them the most, they’ll probably mention the new Fiduciary Rule.
Spooky Fiduciary Legislation
The new fiduciary regulations have understandably put many advisors on the edge of their seats. As they formulate a plan to comply with the updated rule, advisors are dealing with a constant barrage of opinions, news articles, and new procedures coming down from their respective home offices. While this is a formidable new challenge to overcome, the rule does not necessarily mean they should head for the hills.
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The first set of DOL FAQs and answers about the Fiduciary Rule is out!