M3 Financial: Initial Reaction to the Department of Labor Fiduciary Rule and Implications for Plan Sponsors
The Department of Labor (DOL) recently released 1,000+ pages of new rules governing retirement plans. Rules are scheduled to go into effect April 10, 2017.
Why another gigantic set of rules 5+ years in the making?
This new legislation attempts to address conflicts of interest between investors and financial service providers in a reasonable manner.
Who do the new rules affect?
These new Fiduciary Rules primarily affect vendors/brokers/advisors who serve the ERISA market.
What are some of the changes this new legislation may cause?
We expect more resources will become available to plan participants to aid them in planning for their financial future.
Interestingly enough, M3 Financial clients may see this legislation as largely a ‘non-event!’
For more information, please see the expanded comments from M3 Financial on this new legislation.
In addition, a third party webinar was also recently hosted. You will need to register your information before being able to listen to the playback. The webinar is one hour, but includes many great insights.
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Investment advisory services offered through M3 Financial, a registered investment advisor.