Sentences with phrase «labor fiduciary standard»

The new Department of Labor fiduciary standard represents «the most dramatic regulatory change in a number of decades, suffice to say,» explained Scott Curtis, head of Raymond James» independent advisor channel, in an interview on Tuesday.

Cetera Financial Group says it has hired more executives and updated its platforms in order to helps its advisors sell and service retirement plans in accordance with the expected new Department of Labor fiduciary standard.

The new Department of Labor fiduciary standard will alter hedge fund usage in certain portfolios.

Not exact matches

Since the Department of Labor finalized its fiduciary rule (now in limbo) last year, annuity sales have fallen dramatically as brokerage firms and advisors anticipate that the products may not pass muster under a tighter regulatory standard.

A new fiduciary standard applying to financial advisors of retirement accounts, including individual retirement accounts, is expected to be finalized by the Department of Labor within the next several months.

The Department of Labor passed a new rule earlier this year requiring that financial advisors who work with clients on retirement plans abide by a fiduciary standard.

Bogle told those assembled that he has been an advocate for «a federal standard of fiduciary duty, the duty of everyone who touches «other people's money» (OPM) to place the interests of [their] clients above [their] own interests» and that he supports the proposed Department of Labor broker fiduciary duty standard.

The new fiduciary standard mandated by the Department of Labor prohibits advisors from making recommendations that will cause compensation for their services to be more than «reasonable.»

By April 2017, investment advisory firms will have to be in compliance with the Department of Labor's new fiduciary rule requiring them to adhere to a «best - interest standard» in advising their customers.

But even on that benchmark their interpretations vary — evidence, perhaps, of the depth and complexity of the legal questions raised with the finalization of the Labor Department's new fiduciary standard.

Most of the coverage of the SEC's recent proposal to replace the Department of Labor's Fiduciary Rule has focused on the different standards for brokers vs. advisors and the shortcomings of a disclosure - based approach to regulation.

A rule announced last year by the Department of Labor, will soon require them to uphold what's called a «fiduciary» standard, meaning they must put their clients» best interests first.

The Department of Labor's fiduciary standard rule for advisors who serve up retirement - plan advice is here, all right.

Dale Brown, FSI's president and CEO, stated on the call that FSI, as well as the other groups joining the suit, «has supported a uniform fiduciary standard since 2009 — before Dodd - Frank became law... but the Department of Labor's complex and unworkable rule will only harm the smaller investors it claims to protect.»

Despite that distinction, President Barack Obama is one of her biggest fans: In his speech last year pushing the Department of Labor to press on with its fiduciary standard rule, he pointed out Garrett by name as an FA who puts the best interests of her clients first.

While the SEC considers whether to extend a fiduciary duty to all advice givers, and the Department of Labor forges ahead on its revised definition of fiduciary, HighTower has moved ahead on its own, wrapping a strict fiduciary standard into a business model that meets client needs while giving top Wall Street brokers an innovative home from which to serve those clients and grow their individual businesses.

Labor's fiduciary rule upends that practice, replacing a standard that lets brokers recommend products they deem suitable, a lesser requirement.

Then there's the current dispute regarding the Department of Labor's push for fiduciary standards for advisors servicing smaller 401 (k) accounts.

There are two potential rule makings around fiduciary standard of care: the SEC, under Section 913 of the Dodd - Frank Act, and the Department of Labor, under ERISA.

That's why we've included on this year's list the SEC's enforcement chief, Andrew Ceresney, Labor Secretary Thomas Perez, the Institute for the Fiduciary Standard's Knut Rostad, consumer advocate Barbara Roper, securities attorney Tom Giachetti and the aforementioned Mr. Schweiss.

We applaud the Department of Labor for raising awareness of the importance of fiduciary standards, especially the duty of care, the focus of our comments.

The proposals have been in the pipeline for a while, and were released amid growing uncertainty that the Department of Labor's (DoL) own rule, the fiduciary standard rule, which applies only to retirement brokers, will be stricken from the records on the May 8.

Understanding the Standard of Care for Broker - Dealers and the Department of Labor's Fiduciary Rule January 2018

Plaintiffs in the court case that threw out the Department of Labor's fiduciary rule declared «complete victory» against the rule and said the way is now clear for the Securities and Exchange Commission to create a new standard that would apply across financial disciplines.

Similar to the Department of Labor fiduciary rule, the NAIC model would place limits on agent compensation, require more disclosures and set a «best interest» standard.

The Department of Labor (DOL) Fiduciary standard is intended to eliminate any potential conflict of interest between financial professionals and investors saving for retirement.

The Department of Labor's fiduciary standard, and new securities industry account statement rules for greater clarity in the prices of products, have forced nontraded real estate investment trusts to slice their commissions.

I've wanted to talk about the «fiduciary standard» and the new Department of Labor rules for months, but haven't been able to articulate my feelings in an entertaining way.

The Department of Labor's efforts to reform fiduciary standards are not yet in effect, so in the meantime proceed with caution.

The rule was made by the Department of Labor (rather than any actual finance - based organization) and imposes a fiduciary standard on all financial advisors and firms who handle customers» retirement money.

Whatever the merits of the Department of Labor's and SEC's efforts to require a fiduciary standard for advice, the fact remains that just because an adviser is bound by such a standard doesn't guarantee honesty or unbiased advice.

She predicts more advisers will be lumped into the fiduciary relationship in 2016 and beyond, suggesting the Department of Labor (DOL), through its updated fiduciary rule, «will extend the fiduciary standard embedded in ERISA to advisers who handle any kind of retirement account, including individual retirement accounts (IRAs).»

The Labor Department's proposed rule would give them the chance to do that by requiring those giving retirement investment advice to act in the best interest of their clients and comply with the fiduciary standard already embraced by Rebalance IRA and other investment innovators.

With less than two years to go until the full implementation of the Department of Labor (DOL) fiduciary standards rule, annuity carriers are scrambling to create new products to meet those strict pro-customer guidelines.

The U.S. Department of Labor will require that the fiduciary standard apply to retirement savings accounts beginning on April 10, 2017.

According to new regulations issued this week by the Labor Department, financial advisors and brokers who manage individual retirement accounts (IRAs) and 401 (k) s must act in accordance with their clients» best interest by following the «fiduciary standard.»