DOL Fiduciary Standard Update

NAIFA Webinar
June 2017

NAIFA Members – Effective June 9, 2017 You May Be a Fiduciary!

US Labor Secretary R. Alexander Acosta announced that as of June 9, 2017, the DOL fiduciary rule will go into effect and any advisor making a recommendation for a fee to a retirement saver or IRA holder is acting in a fiduciary capacity.

These advisors must satisfy the Impartial Conduct Standard.  This standard says advice must be in the clients’ best interest, that compensation be no more than reasonable, and that there are no misleading statements.
Other requirements of the rule and its exemptions are suspended until January 1, 2018, such as disclosures, contracts under the Best Interest Contract (BIC), and website availability, among the provisions.
This webinar was presented by NAIFA CEO Kevin M. Mayeux and Judi Carsrud, Director, Government Relations. View the archived webianr to learn details of the ruling and what steps NAIFA members must take to comply now and in the months ahead.
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