Retirement advisors and plan sponsors can look forward to two provisions of the Department of Labor's fiduciary rule becoming applicable on June 9.
One provision would create a broader definition of who is a fiduciary when working with retirement accounts, and the other would establish impartial conduct standards by which fiduciary retirement advisors must provide such advice in the best interests of their clients.
The rest of the rule, originally set to take effect April 10, will be delayed until January 1.
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