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Transition period on DOL rule spawns compliance confusion

Even though full implementation of the fiduciary rule has been delayed, there are still actions advisors need to take.

By Marlene Y. Satter | Updated on September 18, 2017
Even though full implementation of the fiduciary rule has been delayed, there are still actions advisors need to take. (Photo: Getty)

Retirement advisors are less than confident about exactly how to be compliant during the transition period for the Department of Labor’s fiduciary rule—and even though full implementation of the rule has been delayed, there are still actions they need to take.

Financial Advisor IQ reports that some advisors are receiving different, and sometimes conflicting, advice from different lawyers. The rule requires advisors to inform investors of any potential conflicts of interest and have their clients sign a Best Interest Contract Exemption document if the advisors receive variable compensation for providing retirement advice.

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