Rollovers Are Fiduciary Advice Under New DOL Rule
February 23, 2021 by Melanie Waddell
Advisors, take heed: The recently approved Trump Labor Department fiduciary prohibited transaction exemption, which took effect Tuesday, treats rollovers as fiduciary advice.
“People have made the argument that rollovers cannot be fiduciary advice because it’s a one-time recommendation,” Brad Campbell, partner at Faegre Drinker in Washington, said Tuesday on the firm’s webcast, “What Lies Ahead for RIAs: The DOL and SEC Regulatory Landscape.”
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Originally Posted at ThinkAdvisor on February 17, 2021 by Melanie Waddell.
Categories: Industry Articles