DOL Final Fiduciary Rule Imposes Best Interest Standard on Advisors Working with Retirement Savers

On April 6, the Department of Labor (DOL) released its final new fiduciary rule. Changes made in the final rule address several of the concerns expressed by NAIFA—we are appreciative of the degree to which DOL listened to NAIFA input and responded positively to it. Despite NAIFA’s influence, and the improvements in the regulation from its earlier draft, we realize that the DOL rule is far from perfect. It is also very complex. NAIFA experts continue to analyze it, and will watch for any issues that may arise during the practical application of the rule. Read more