DOL Rule Impacts Far More Than Advisors’ Pay

October 29, 2016 by Kerry Petcher

Although some financial services companies are still stuck in one of the first four stages of grief (denial, anger, bargaining and depression) over the Department of Labor’s fiduciary rule, a few companies are already well into the fifth stage—acceptance—and have tweaked their businesses to fit the new normal.

Attorneys from three firms in the latter category—Vanguard, USAA and OneAmerica—shared war stories about how their companies have adapted to the DOL rule in a presentation to a standing-room-only crowd at LIMRA’s annual conference in Chicago this week. The rule takes preliminary effect next April; full compliance is expected by the start of 2018.

View the full story HERE on RIJ; subscription required

Originally Posted at Retirement Income Journal on October 28, 2016 by Kerry Petcher.