The Department of Labor’s fiduciary rule, which requires financial professionals to put their customers’ interests first when handling retirement accounts, is now in force.

What this means to retirement investors is:  The Rule has an effect on virtually every advisor and financial services firm in the investment advice business…registered investment advisors, brokers, and insurance agents. 

The goal of the rule is to eliminate conflicts of interest and protect the best interests of the client.

Retirement investors deserve to be assured their advisor/broker is complying with both the spirit and letter of the rule, and are committed to serving their clients first, last, and always.  Those are the core principles of my practice – principles that are aligned with the DOL’s goal to protect the best interest of consumers.

The Fiduciary Conflicts of Interest Rule took effect June 9, 2017, and the rule is scheduled to become fully effective January 1, 2018.

The fiduciary rule was crafted by the Department of Labor (DOL), which oversees retirement accounts and assets.  The new requirement applies to all financial industry firms, advisors and their clients, and impacts retirement accounts including IRA's, 401(k)’s, 403(b)’s and other qualified plans.

The Rule establishes a broad new definition of the term “fiduciary” and generally includes any individual or firm providing investment advice or recommendations to a retirement plan, plan fiduciary, plan participant for beneficiary, IRA or IRA owner (i.e., “retirement investor”).

We are committed to serving retirement investors’ best interests … first, last, and always.

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© 2017 Jane B. Smith, CFP®

This material is for use with the general public and is designed for informational or educational purposes only. It is not intended as tax or investment advice and is not a direct recommendation for your retirement savings. LFS-1855555-072517