Advisors: DOL Rule Black And White With A Streak Of Gray
May 16, 2016 by Juliette Fairley
Financial advisors attending The Financial Planning Association of New York’s spring forum view the new Department of Labor’s new fiduciary rule as aligned with what they are already doing.
Advisors said they are already beholden to the standard and the process is likely to fit into their compliance system.
“I have a fabulous broker dealer who makes sure I am in compliance at all times and I carry errors and omissions insurance,” said Sallie Mullins Thompson, a certified financial planner in New York.
The 20-year financial advisory veteran added that she’s already a fiduciary because she is an investment advisory representative. “A lot of the investments I do for my clients are in managed accounts,” Thompson said. Click HERE to view the full article. INN news articles may require a subscription to view
