They may not realize it, with all the news of delays and partial implementations of the fiduciary rule — but advisors providing advice on retirement accounts are ERISA fiduciaries and need to act as such.

That's according to RiXtrema, which has launched a tool, as have many in the financial industry, to help with fiduciary rule compliance. Its DOL Fiduciary Rule Checklist aims to help advisors make sure they've dotted all the i's and crossed all the t's.

"Every advisor who advises on retirement account assets as of June 9, 2017, is effectively an ERISA fiduciary who must adhere to Impartial Conduct Standard and charge no more than a reasonable fee," Daniel Satchkov, president of RiXtrema, says in a statement, adding, "It's essential that advisors understand this and take necessary action to comply with the rule."