Sentences with phrase «based fiduciary standard»

This is a curious remark as the principle - based fiduciary standard has been articulated through seventy years of court cases and SEC opinions — as a principle - based standard.

Reading more of the ICI findings, it is fairly apparent why the rule seeks to over-regulate annuity advisors who are subject to the rules - based and highly regulated suitability standard while under - regulating fee - only advisors by holding them to a subjective, principles based fiduciary standard: to pander to the employer - sponsored plan providers and keep money from rolling over.

Not exact matches

Applying the ratio of entities that meet the SBA size standards to the number of affected entities, based on the methodology described at greater length in the RIA of the Fiduciary Rule, the Department estimates that the number of small entities affected by this final rule is 2,438 BDs, 16,521 Registered Investment Advisors, 496 insurers, and 3,358 other ERISA service providers.

A fiduciary standard is a «principles - based» standard, which has no explicit regulations or requirements governing the conduct.

It would be more difficult to keep those commission - based accounts, the industry has said, if the fiduciary standard were imposed.

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.

That means they can recommend funds based on commissions, not prudence — the standard by which 401 (k) fiduciaries must select funds.

For the person that's fully commission - based, I don't think they'll exist because when the regulators finally decide that there's a uniform fiduciary standard for anyone dealing with the public, they'll be forced to adapt.

The difficulty lies in the fact that a fiduciary standard is a «principles - based» standard.

The chief advantage the SEC has, if it is prepared to seize it, is that DOL has already demonstrated that it is possible to develop a fiduciary standard for the broker - dealer business model that permits transaction - based compensation but reduces the most toxic conflicts.

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.

I'll put things even more bluntly: Any financial professional who is being paid for personalized investment advice — regardless if it is on a fee or a commission basis, directly or indirectly — should adhere to the fiduciary standard.

These rollovers, which will be one - time and not «on a regular basis» are not covered by the 1975 fiduciary standard.