New fintech tools for DOL fiduciary rule launched despite questions of a Trump delay
The advisory world is moving toward a fiduciary standard with or without the DOL rule, financial technology firms contend
Nov 16, 2016 @ 1:37 pm | By Liz Skinner | Investment News
Fintech companies are continuing to push out tools to meet the DOL fiduciary rule, even as the surprise election of Donald Trump as America’s next president has created questions about whether the rule will be amended or even killed.
Three companies announced upgrades, integrations or new tools Wednesday that aim to help financial advisers meet provisions of the controversial rule that requires advisers to act in the best interest of clients when providing retirement advice. Implementation of the rule is set for April 2017.
Executives at the three fintech firms said despite speculation that President-elect Trump could delay implementation of the rule, the trend toward putting clients’ interests first isn’t going to go away, and advisers should remain on course to meet the rule.
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