DOL Goes Ahead with Trump-Era Fiduciary Exemption Rule as Planned

February 17, 2021 by Alex Padalka

The Department of Labor says that it’s implementing, as scheduled, an exemption for investment advice fiduciaries devised during the Trump administration.

“Improving Investment Advice for Worker & Retirees,” as the rule is known, provides for an exemption that essentially allows investment advisors, broker-dealers and other investment professionals and institutions to collect various payments, including 12b-1 fees, sales loads and revenue sharing payments while providing advice on rollovers, under certain conditions. The rule goes into effect today, the DOL says.

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Originally Posted at Financial Advisor IQ on February 16, 2021 by Alex Padalka.