Department of Labor Proposes New Fiduciary Rules for Advisors – April 22, 2015
On April 14 the U.S. Department of Labor released its much-anticipated proposed rules detailing how ERISA’s fiduciary obligations apply to those providing investment advice to IRA owners and qualified plan participants.
In its news release announcing the new rules, the DOL stated: “Under the proposals, retirement advisers will be required to put their clients’ best interests before their own profits. Those who wish to receive payments from companies selling products they recommend and forms of compensation that create conflicts of interest will need to rely on one of several proposed prohibited transaction exemptions.”
These new proposals are likely to garner as much attention and comment as the DOL’s last attempt to redefine the fiduciary rules back in 2010.
The article including thoughts from Mary Ann Ferreira, CFP®, Certified Divorce Financial Analyst™, and Viridian Shareholder was originally published by Forbes.com To read the full article, click here. Print Friendly
SECURE Act – Implications for You Written by Mary Ann Ferreira, Financial Advisor & Shareholder While we were all preoccupied with decorating Christmas trees, lighting Hanukah candles and/or other Holiday…
Article including quote from Matt Boelter, Viridian Financial Advisor and Shareholder. The article was originally published with US NEWS & World Report. To read the full article, click here. Print Friendly