Debate: Will the New DOL Fiduciary Rule Hurt Retirement Investors?

November 21, 2023 by Robert Bloink and William H. Byrnes

The Department of Labor has released its proposed replacement for the definition of “investment advice fiduciary.”

Under the proposal, a financial services professional would be classified as an investment advice fiduciary if (1) the provider offers investment advice or makes investment recommendations to a retirement investor, (2) for a fee or compensation and (3) the financial services provider makes the recommendation within a professional relationship in which an investor would reasonably expect to receive sound investment recommendations that are in the investor’s best interest.

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Originally Posted at Think Advisor on November 20, 2023 by Robert Bloink and William H. Byrnes.