Morningstar and the American Retirement association say they will work together to develop a program for fiduciary education and best practices. (AP Photo)

Chicago-based investment researcher and manager Morningstar Inc. and the Arlington, Virginia-based American Retirement Association have announced that they will partner in developing a program “that sets a new standard in fiduciary education and best practices.”

The IRA Fiduciary Adviser education program is “designed to prepare advisers for a continuously shifting regulatory environment,” according to Brian Graff, CEO of American Retirement Association, who pointed out that while there’s already considerable industry focus on the U.S. Department of Labor’s fiduciary rule, “the SEC and FINRA have both already signaled their intent to introduce additional fiduciary regulations.”

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