Making the most of another delay in the DOL’s fiduciary rule: Editorial

August 20, 2017 by Jamie Johnson

After seven long years of argument and comment, one would expect that the Labor Department’s fiduciary rule would be a done deal, and would now be going into full effect.

Alas, no. While the DOL has allowed parts of the rule to go into effect, it has sought an 18-month delay in the implementation of other parts of the rule, allowing confusion and uncertainty to reign over the financial services industry, especially the broker-dealers that have long opposed it.

The regulation requiring all financial advisers providing investment advice to retirement accounts to act in the best interests of their clients — that is, as fiduciaries — has gone into effect.

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Originally Posted at InvestmentNews on August 20, 2017.