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Fate Of Fiduciary Rule Is Uncertain, But Count On Us

On February 3, 2017, President Trump issued an executive order on the controversial new "fiduciary rule," authorizing further review. It was scheduled to take effect on April 10, 2017. On March 2, 2017, the Department of Labor (DOL) extended the comment period for 60 days.

The new rule would require financial advisors and their firms to uphold certain fiduciary standards when they are compensated for investment advice and recommendations relating to retirement accounts such as 401(k)s and IRAs. Essentially, advisors and firms would have to represent that they're putting the best interest of clients before their own.

This "best interest" provision would have had to be included in a written contract that would say that the advice being offered is based on a client's particular needs.

After much discussion, the modified final rule covered some assets thought to have been excluded, such as variable annuities, and eliminated certain requirements on fee projections.

Although the ultimate fate of the rule is now up in the air, some firms have already implemented changes relating to the rule and are likely to stick with them.

Rest assured, regardless of how this plays out, our firm has your best interest at heart. Don't hesitate to contact us if you have any questions.


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Index
One Last Shot At A Tax Exemption
Taking Socially Responsible Investing To The Next Level
How You Can Manage Risk Aversion
Don't Be Caught Red-Handed By The Wash Sale Rule
When To Disclaim An Inherited IRA
Trust As IRA Beneficiary: Not Crazy
Tax Reform Outlook: Cloudy, With A Chance Of A Law
Sowing Tax Seeds For Capital Gains
Grandparents Can Become Big Spenders For Their Offspring
Sticking With The Fundamentals
What Would Estate Tax Repeal Mean?
Timely Tax Angles To Dividends
Are You Planning To Unleash The Dogs Of The Dow?
5 Retirement Mistakes You Can Fix
The Best Places In The Country To Retire

This article was written by a professional financial journalist for McCarthy Asset Management, Inc. and is not intended as legal or investment advice.

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