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What John Oliver got right (and wrong) about the DOL fiduciary rule

Oliver does a decent job of explaining why the rule came about, leaning heavily toward the DOL side.

By Carley Meiners | Updated on June 16, 2016

The Department of Labor’s fiduciary rule has been a battle for our industry for about six years now, and consumers rarely know about or understand the potential changes. But last week, the rule took on a new audience: the viewers of “Last Week Tonight with John Oliver.”

Here’s the thing, I spend almost every day reading something about this rule, whether it be about lawsuits, what advisors should do about it or how the industry should embrace it. The rule itself is extremely complicated and so are the things advisors managing retirement accounts must do. As Oliver explains, “for the average person saving for retirement … [it] doesn’t need to be this confusing.”

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