Legislation also would require defined-contribution plans to make lifetime income disclosures, and allow small employers to combine plans.
Selection process will be like a suitability standard on steroids, requiring an analysis like those done by a financial planner.
Independent broker-dealers expected to be hardest hit, with a 22% loss in revenue.
Plus: Goldman pushes the Fed, Elizabeth Warren's latest grandstand, and premium gas is usually a rip off
A financial scandal showing harm to the unsuspecting public — even if conducted outside the advice industry — will live on in the minds of voters and politicians.
Some broker-dealers and RIAs are turning to third parties to begin the tough task of educating advisers on the new regulation. <b>(Plus, <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">find the answers to all of your questions on the fiduciary rule</a>.)</b>
Deputy assistant secretary Timothy Hauser also says liability exposure is relative to portfolio size, so regulation shouldn't prevent serving clients with modest assets.
The funds are more flexible than annuities, but can't guarantee a set payment for life.
Senate panel urges agency to improve guidance on when to claim benefits after a study by the Government Accountability Office showed government representatives often give out misleading information.
Douglas Wayne Studer agreed to be barred from the securities industry.
Plus: The downside of lower oil prices, how to get your money back from Wells Fargo, and why central banks are buying gold.
Hybrid strategy between active management and index funds needs to perform and be cheap.
Many economists believe a recession is still a possibility, which has been stoked by the breakdown in traditionally reliable indicators.
Robert Muh prevailed over four candidates vying for the position, including the governor running for reelection, Robert Keenan.
We need to be candid about the realities facing today's pre-retirees.
Plus: Here comes the bear market for bonds, Vanguard leads the way in net inflows this year, and Obamacare continues to crumble
Plus: T. Boone Pickens takes on President Obama's energy policy, how traders navigated the Fed, and starting your day off right
Longevity, rising costs make preparing a solid health-care budget next to impossible. <b>(Related read: <a href="//www.investmentnews.com/article/20160413/BLOG05/160419958/health-care-costs-squeeze-retirement-savings"" target=""_blank"" rel="noopener">Health-care costs squeeze retirement savings</a>)</b>
