The DOL fiduciary rule, duties to consumers, and the Best Interest Contract Exemption

July 6, 2016 by American College of Financial Services

Financial advisors affected by the U.S. Department of Labor’s (DOL) so-called Conflict of Interest Rule have many unanswered questions and plenty of concerns regarding the new regulations.

However, at its core, the DOL fiduciary rule aims to protect consumers receiving retirement investment advice inside of qualified retirement plans and IRAs.

Financial advisors will need to ensure they have a thorough understanding of the rule and how it affects their practice. Part of that understanding will include being able to talk to clients about the rule, as they have no doubt encountered media coverage surrounding it.

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Originally Posted at LifeHealthPro on July 5, 2016 by American College of Financial Services.