While advisors anticipate — yet again — the arrival of fiduciary advice rules from the Securities and Exchange Commission and Department of Labor in the new year, they'll also be bracing for more exams as well as watching how some proposed regs and bills play out.
The DOL's expected proposal requiring plans to project the amount of a participant's retirement income is likely to be a "game changer" for advisors, one industry watcher says.
The SEC's rule to put brokers under a fiduciary mandate isn't expected to arrive until after DOL releases in August its reproposed rule to amend the definition of fiduciary under the Employee Retirement Income Security Act.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
