The Fiduciary Rule: What Advisors Need to do to Comply With the New Standard
The Department of Labor’s Fiduciary Rule has been casting a long shadow over the financial services industry for nearly a decade, but now, after many twists and turns, it appears that it will finally be implemented. On May 23, 2017, Labor Secretary Alexander Acosta announced that there will be no additional delay of the DOL Fiduciary Rule and that it will go into effect starting June 9, 2017. The Department of Labor will continue to review the rule and may make changes to it, but for now, it will be implemented as written.