Home|Our Services|About Us|Resources|Contact Us|Client Center
More Articles  Printer Friendly Version


With Or Without The New Fiduciary Rule, We Have Your Back

When the Department of Labor (DOL) proposed its fiduciary rule for retirement accounts in 2015, the department wasn't prepared for the controversy the rule generated. After months of review, the DOL unveiled the final rule early in 2016. It is slated to take effect on April 10, 2017.

Although the final rule reflects the basic tenets of the proposed rule, it does include some modifications designed to appease its critics.

At its core, the rule requires financial advisors and their firms to uphold fiduciary standards when those advisors and firms are compensated for investment advice and recommendations relating to retirement accounts such as 401(k)s and IRAs. Essentially, advisors and firms must promise that they're putting the best interests of clients before their own.

This "best interest" stipulation must be reflected in a written contract that says the advice being offered is based on a client's particular needs.

Among other modifications, the final rule covers assets that previously were thought to be excluded, such as variable annuities, and repeals certain requirements for projections of advisor fees. It also streamlines the procedures for the contracts.

We always have put our clients' best interests first and will continue to do so. No regulation is needed to ensure our good faith.

Email this article to a friend

Now Is A Perfect Time To Open A New Business
Tie The Knot For Retirement With A Spousal IRA
Remember The Lesson Of Rebalancing
What's The Truth About Probate?
5 Key Documents In An Estate Plan
4 Cornerstones Of Diversification
Higher-Paying Job May End Up Costing You
Women Short-Changed Despite Business Gains
Cash In On This Gift Tax Break For Section 529 Plans
Do Robo Advisors Have Glitches?
Social Security Options Remain
Starting A Retirement Plan? SIMPLE
Millennials Want To Save More And Resist Impulse Purchases
DOL Approves Final Fiduciary Rule
Do You Have To File An FBAR Now?

This article was written by a professional financial journalist for Amherst Financial Services and is not intended as legal or investment advice.

©2016 Advisor Products Inc. All Rights Reserved.
© 2016 Amherst Financial Services | 81 East Water Street, Suite 2A, Toms River, NJ 08753 | All rights reserved
P: 732-349-3377 | info@amherstfinancial.com |
Disclosure | Privacy Policy | Contact Us