Advisory Relationship
CFA Institute responds to the DOL’s request for comment on whether it should delay implementation of its fiduciary rule.
The incoming Trump administration has said it may stop the implementation of the DOL’s fiduciary rule, but the industry needs it to win back the public’s trust.
The future of the DOL rule is somewhat uncertain, but the changes probably won’t happen fast and the rule may actually already be established. Categories: Fiduciary Duty; Standards, Ethics, and Regulations (SER)
Will lawsuits delay implementation of DOL’s fiduciary rule to address conflicts of interest in retirement advice? Why is rule still so politically charged? What hard choices face investors, lawmakers?
IAC’s Kurt Schacht: “For too long, the fixed-income market has had a veil … around fees, bid-offer spreads, and [broker/dealer] mark-ups. Retail investors in particular are looking for some sunshine.”
The report on the DOL’s fiduciary rule predicts three market trends will emerge. The rise of robo-advisers is one of them. What are the other two, and who will be the winners and losers of the rule?
The Department of Labor advises asset managers to be ready to comply with the fiduciary rule by the target implementation date of April 2017. Will lawsuits delay this plan?
Can the business and financial disclosure requirements of Regulation S-K be improved? Investors have an opportunity to help shape the new rules.
The group is worried about investment fund costs, said CFA Institute managing director Kurt Schacht, CFA. Our study shows even a 1% annual fee can consume over 30% of investors’ returns over 40 years.
The US Labor Department has released its final fiduciary rules for retirement advice. While the rules steadfastly maintain their requirement for a best-interests contract for most arrangements between investors and nonfiduciary advisers, the federal agency relented on a number of troublesome implementation matters.