Come midnight this Friday, anyone advising IRA account holders, and most of the country’s 401(k) plans, will have to operate under the fiduciary rule’s impartial conduct standards.
The June 9 requirement is, of course, a far cry from compliance with the full rule, which is scheduled for January 1, 2018.
The impartial conduct standards require that advice is given in the best interest of investors. Advisors can only receive reasonable compensation and are prohibited from giving investors misleading information.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
