Date leaked for release of DOL fiduciary rule

Date leaked for release of DOL fiduciary rule
The Labor Department will unveil a final version of the so-called fiduciary rule next Wednesday, according to a published report.
APR 04, 2016
The Labor Department will unveil a final version of the so-called fiduciary rule next Wednesday, according to a published report. The rule, which is expected to be the most disruptive piece of regulation to come down the pike since the Employee Retirement Income Security Act of 1974, will be released by supporters Wednesday at 11:30 a.m. at the the Center for American Progress, a nonpartisan think tank in Washington, D.C., according to a report in the Wall Street Journal. (Survey: Ready or not, a rule change is coming. How will it affect your business?) The rule, which some expected to be released as early as next Monday, will require brokers to adhere to a “fiduciary” standard when making investment recommendations on retirement accounts. Right now, brokers' advice only has to be “suitable,” which proponents of the new rule maintain is a standard that lends itself to the sale of expensive — and often inferior — investment products. A spokesman for the DOL could not immediately be reached for comment.

Latest News

Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York
Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York

Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.

UBS loses arbitration battle in fiduciary fight over foundation funds
UBS loses arbitration battle in fiduciary fight over foundation funds

A federal appeals court says UBS can’t force arbitration in a trustee lawsuit over alleged fiduciary breaches involving millions in charitable assets.

RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee
RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee

NorthRock Partners' second deal of 2025 expands its Bay Area presence with a planning practice for tech professionals, entrepreneurs, and business owners.

Three easy ways to boost your firm’s impact this summer
Three easy ways to boost your firm’s impact this summer

Rather than big projects and ambitious revamps, a few small but consequential tweaks could make all the difference while still leaving time for well-deserved days off.

Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite
Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite

Hadley, whose time at Goldman included working with newly appointed CEO Larry Restieri, will lead the firm's efforts at advisor engagement, growth initiatives, and practice management support.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.