The LIMRA LOMA Secure Retirement Institute has launched an online training program about the Department of Labor's fiduciary rule and its implications for client-facing professionals, both employee and contracted.

"Fiduciary Education for Sales and Service Professionals" offers a self-paced online curriculum aimed at all client-facing employees, including registered representatives, investment advisor representatives, insurance agents, wholesalers, contact center representatives and service personnel.

The program is comprised of a base course and role-specific courses for both fiduciary and nonfiduciary roles. The base course explains the DOL fiduciary rule and the Best Interest Contract Exemption (BICE), using realistic scenarios to illustrate how to remain compliant under the new regulatory environment.

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The program also features an annual recertification course to ensure employees and representatives continue to have the best and most-up-to-date understanding of the DOL fiduciary rule and its implications as the implementation unfolds.

Participating companies will receive a certificate of completion for each of their client-facing representatives as a means of tracking and documenting compliance. "Using a credible education program built to an industry standard, and administered by an independent third party, companies can demonstrate a good-faith effort to meet regulatory expectations and improve the odds of protecting the firm and the people who represent them." Paul Henry, managing director, LIMRA Secure Retirement Institute, said in a statement.

Companies that already use LIMRA's compliance education platform to deliver other programs will receive a discounted rate for the fiduciary training program.

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