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Is Trump a threat to the fiduciary rule?

January 24, 2017

Is Trump a threat to the fiduciary rule?

The financial services industry has spent months preparing for April 10

Jan 23, 2017 1:08 p.m. ET | by  | MarketWatch

While the Labor Department’s fiduciary rule is scheduled to take effect April 10, some experts predict that President Trump will somehow, someway put the kibosh on the rule that requires financial advisers to act in their client’s best interest, adhering to a fiduciary standard with respect to retirement accounts such as IRAs and 401(k)s.

Should that happen, and it wouldn’t be easy to eliminate it or roll it back, advisers who already adhere to such a standard—by virtue of being a registered investment adviser (RIA) or an investment adviser representative (IAR)—may be able to reclaim a competitive advantage in the marketplace, strengthening their argument that they act in their client’s best interest with respect to retirement as well as taxable accounts.

Other advisers, registered representatives and insurance agents, meanwhile, will only be able to claim that they are giving their client suitable advice, a much lower standard.

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Steve Siepak
Blue Vault session at the recent National Planning Holdings National Conference
September 13, 2017

The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.