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New rules for IRA rollovers coming

The DOL is likely to hold broker-dealers who chase IRA rollovers to the same fiduciary standards that retirement advisors must meet.

By Allen Greenberg | Updated on October 17, 2014

SAN ANTONIO, Texas – The Department of Labor is likely to hold broker-dealers who chase IRA rollovers to the same fiduciary standards that retirement advisors must meet.

That was the prediction offered Friday by ERISA attorney Fred Reish, who noted that, with an estimated $2 trillion in the 401(k) accounts of baby boomers at stake, regulators are “taking it all very seriously.”

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