Results for "fiduciary"

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DOL fiduciary rule pushes indexed annuity carriers to develop new products

May 25, 2017

Insurance companies, especially those that are indexed-annuity-centric, have been launching annuity products within the past several months in anticipation of the Department of Labor's fiduciary rule, which is expected to cause a big disruption...

DOL fiduciary rule pushing broker-dealer assets to fee-based accounts, away from commissions

May 24, 2017

There's been a marked shift in the allocation of broker-dealer client assets in the year since the Department of Labor issued its fiduciary rule. Largely, the shift has seen assets flow into advisory accounts, which assess a level fee based...

Simple disclosure of conflicts touted by opponents of DOL fiduciary rule not effective

May 24, 2017

Now that the industry knows the DOL fiduciary rule will go into effect on June 9, it's important to step back and understand what's at stake and who stands to benefit from — or be hurt by — potential revisions to the rule, which may happen...

DOL fiduciary rule provides retirement savers with needed protections

May 24, 2017

I have some good news and some bad news. The good news is that the Department of Labor's fiduciary rule, which states that any broker or manager offering advice on retirement-savings accounts must put the clients' interests first, looks like...

DOL Fiduciary Rule: What you need to know about Acosta's decision

May 23, 2017

Labor Secretary Alexander Acosta confirmed Monday night that the agency's fiduciary rule will become applicable on June 9. The following FAQs provide additional information on the transition period from June 9 to January 1, 2018.

DOL fiduciary rule reaction on Twitter

May 23, 2017

Big DOL fiduciary rule news requires plenty of DOL fiduciary rule reaction. Here's a sampling of what's being said on Twitter following the announcement by Labor Secretary Alexander Acosta that the rule will become applicable on June 9. BOOM....

Labor secretary Alexander Acosta gives DOL fiduciary rule supporters something to cheer about — at least for now

May 23, 2017

Major parts of the Labor Department fiduciary rule will kick in June 9, but how much of the rest of it will survive remains uncertain. Labor Secretary Alexander Acosta announced in a Wall Street Journal oped Tuesday that the initial implementation...

RIAs and broker-dealers charge ahead in prep for DOL fiduciary rule

May 23, 2017

Registered investment advisers and broker-dealers are taking the Department of Labor's decision to decline another round of delays for the fiduciary rule in stride. Indeed, it looks to be business as usual for registered investment advisers,...

In new fiduciary rule FAQs, DOL gives quasi-endorsement of clean shares

May 23, 2017

The Department of Labor, in a recently released set of frequently asked questions related to its fiduciary rule, gave an endorsement of sorts to clean shares, saying the new mutual-fund share class represents one of the "most promising responses"...

Acosta declines to extend delay of DOL fiduciary rule

May 22, 2017

Labor Secretary Alexander Acosta confirmed Monday night that the agency's fiduciary rule will become applicable on June 9. "We have carefully considered the record in this case, and the requirements of the Administrative Procedure Act, and have...

Regulation, politics dominate adviser concerns, survey finds

May 22, 2017

Regulatory and political developments topped advisers' concerns in the first quarter, according to a survey conducted by Fidelity. Nearly a quarter (24%) of the advisers surveyed cited topics relating to government and the economy, with many...

Phyllis Borzi says opponents of DOL fiduciary rule face uphill climb to further delay or dilute it

May 22, 2017

A former Labor Department official who developed the agency's fiduciary rule said on Sunday that opponents of the measure face a steep climb in trying to further delay or overhaul it. Phyllis Borzi, a former assistant DOL secretary who is known...

How 401(k) advisers can bullet-proof themselves against litigation risk under DOL fiduciary rule

May 20, 2017

Many advisers who service 401(k) plans will, for the first time, be considered fiduciaries with respect to their investment advice when the Labor Department's conflict-of-interest rule comes into force next month. Along with that heightened...

Democratic senators criticize Acosta for rushing to conclusion on DOL fiduciary rule

May 19, 2017

Democratic senators who sit on the committee with jurisdiction over the Labor Department criticized Secretary Alexander Acosta on Friday for appearing to jump to a conclusion about the agency's fiduciary rule. In a letter to Mr. Acosta, Sen....

Indexed, variable annuity sales slump as DOL fiduciary rule looms

May 18, 2017

Annual sales of indexed and variable annuities took another nosedive in the first quarter with the Department of Labor's fiduciary rule set to come into force. Despite a stronger equities market and interest-rate environment, the fiduciary-rule...

DOL fiduciary rule opponents, lawmakers call for further delay at House hearing

May 18, 2017

Republican lawmakers and opponents of the Labor Department's fiduciary rule on Thursday called for an extended delay of its implementation deadline, citing what some call new evidence of its harm to investors. Most witnesses before the House...

Finra chairman John Brennan says DOL rule has raised standard for financial advice

May 16, 2017

Finra chairman John J. Brennan said on Tuesday that even if the Labor Department's fiduciary rule is repealed, it has elevated and put into plain language the idea of providing investment advice that's better for clients' returns than for financial...

Fidelity's approach to DOL fiduciary rule rankles some 401(k) advisers

May 15, 2017

Fidelity Investments is aggravating some retirement plan advisers. Their ire stems from changes that Fidelity, the largest record keeper of defined-contribution plans, is making to its business in relation to compliance with the Labor Department's...

Will the fiduciary rule shrink the ever-expanding world of share classes?

May 13, 2017

First there was​ little share class A. Then there were little share classes B and C. Faster than you could say, "The Cat in the Hat," there were little share classes I, N, K, F and Y. Now the fund industry is contemplating unleashing an estimated...

Merrill Lynch will allow IRA commissions in some circumstances under DOL fiduciary rule

May 11, 2017

Merrill Lynch will allow advisers to receive commissions from some transactions in individual retirement accounts under the Department of Labor's fiduciary rule, the company announced Thursday, backing off a hardline position against commissions...

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