Dos and Don’ts of Seminar Selling Under DOL Rule

October 14, 2016 by John Hilton

Agents who have long relied on free seminars and steak dinners to educate prospective clients will have to tread lightly once the Department of Labor fiduciary rules take effect.

The rules impose a fiduciary standard of care on financial advisors dealing with retirement accounts. The DOL says the rules are needed to better protect neophyte investors from product complexities and hidden fees.

Most of the concern and study over the past year has focused on the impact of the DOL rule on agent compensation. DOL officials say rampant conflicts exist when advisors and agents are paid higher commissions to recommend certain products.

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Originally Posted at InsuranceNewsNet on October 14, 2016 by John Hilton.