Earnings calls suggest that the retirement planning industry is still in the early stages of understanding not only how to comply with the DOL fiduciary rule, but what new costs will ultimately emerge, to providers and their clients.
Leaders of publicly traded companies that provide retirement investments, platforms, and advisory services have been peppered with questions from analysts on the Department of Labor's fiduciary rule this earnings season.
By now, most are familiar with the spirit of the rule—advisors to 401(k) plans and IRA rollovers will have to act as fiduciaries, or strictly in the best interest of participants and individual investors. Providers and advisors will have to fully comply with the new rule by January 1, 2018.
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