DOL Approves Final Fiduciary Rule

April 30, 2024 by Tracey Longo

The Department of Labor finalized its new Retirement Security rule today, expanding the definition of fiduciary to include brokers and insurance agents in a bid to protect retirement investors from conflicts of interest.

The updated definition of an investment advice fiduciary, which takes effect Sept. 23, will apply when advisors and agents give compensated investment advice to retirement plan participants, IRA owners and plan officials responsible for administering plans and managing their assets, the DOL said.

Click HERE to read the full story via Financial Advisor

Originally Posted at Financial Advisor on April 23, 2024 by Tracey Longo.