Advisers missing major wrinkle in DOL’s fiduciary rule

Proposal would force RIAs to comply with both the SEC standard and Labor Department’s rule, FSI says

Guest blog post by Dale Brown

Since the Labor Department reproposed its draft rule to expand the definition of fiduciary – and its oversight of Americans’ retirement accounts – earlier this year, one key misconception has kept some segments of our industry from fully engaging on this issue. Since RIAs are already held to a fiduciary standard, many of them have assumed that the DOL’s proposal would have little or no impact on their businesses and their clients.

Read more from InvestmentNews here.

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