A DOL Fiduciary Rule and PTE Refresher

July 6, 2021 by John Manganaro

Even as experts anticipate further regulatory activity will affect the Department of Labor (DOL)’s fiduciary investment advice standards, it is important to get caught up on the current state of affairs, which can best be described as convoluted.

Effective February 16 of this year, the DOL implemented an expanded definition of “fiduciary advice.” Experts say this new definition will cause many registered investment adviser (RIA) services that were previously considered non-fiduciary under the Employee Retirement Income Security Act (ERISA) to be subject to a fiduciary best interest standard of conduct moving forward.

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Originally Posted at PLANADVISER on June 25, 2021 by John Manganaro.