Sentences with phrase «fiduciary standard limits»
The current NAPFA fiduciary standard limits adviser activity to the «purchase or sale of a financial product» rather than «any transaction.»
https://goclarityfinancial.com/ Not exact matches
According to a DOL fact sheet, in April 2017, the «broader definition of fiduciary will take effect, but to take advantage of the [best interest contract] exemption, firms will only be required to comply with more limited conditions, including acknowledging their fiduciary status, adhering to the best interest standard, and making basic disclosures of conflicts of interest.»
One year after the rule's publication, in April 2017, the «broader definition of fiduciary will take effect, but to take advantage of the BIC exemption, firms will only be required to comply with more limited conditions, including acknowledging their fiduciary status, adhering to the best interest standard, and making basic disclosures of conflicts of interest,» DOL states in a fact sheet released Tuesday detailing some of the final rule's changes.
«We'll accept a limited fiduciary standard,» it says, «but only if the SEC writes specific rules for how advisers should behave.»
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.
Another pitfall of a universal fiduciary standard that Harvey sees would be a tendency to limit an advisor's willingness to introduce any but the lowest risk investments.
availability (in most cases) of highly qualified portfolio managers working to a fiduciary standard to step in and provide limited human advice when needed.