DOL Releases Final Fiduciary Rule

April 8, 2016

and | DOL Fiduciary Rule | Wealth Management.com

The Department of Labor today released its final rule requiring advisors overseeing retirement accounts to act under a fiduciary standard to put their clients’ interests ahead of their own.

While the broad strokes of the rule have been known for some time, the Department of Labor tweaked the final version to “minimize” the compliance burden on firms and throw open the window to allow for a broader range of investments, including non-traded REITs and variable annuities, as long as advisors guarantee they are putting their clients’ interests ahead of their own.

The final rule also eliminates the requirement that firms give clients a projected cost analysis of their investments over time as well as an annual disclosure of fees.

Article Located Here

Go Back
Gordon Dunne
September 30, 2019

“Always, but especially in this day of lawsuits and ever increasing regulations, the responsibility for a financial advisor t do their own due diligence on products they sell falls squarely on themselves. No one is going to take greater interest in protecting their practice than they are. We use the Blue Vault Partners Nontraded REIT Review to keep us informed of the performance of every single nontraded REIT. Finally, complete transparency is available for advisors using nontraded REITs. Every advisor using REITs in their practice should make the small annual investment of subscribing to Blue Vault’s reporting services.”