Other states could move in to plug the fiduciary gap if the DOL and SEC devise a watered-down standard.
The DOL rule that requires acting in clients' best interests will apply to these accounts.
Expect rapid product innovation and growing demand in this area, along with considerable business opportunity
Just as advisers are obligated to fulfill fiduciary duties, elected officials are similarly obligated when it comes to public policy.
The most surprising aspect of the second round of adviser FAQs is they concentrate on behaviors that will legally and appropriately circumvent fiduciary accountability.
Even opponents of the DOL rule appear to be zeroing in on titles that cause confusion with the investing public.
The rule could ultimately be killed or replaced, but only one course of action by firms provides certainty.
Each of the underlying duties of the fiduciary rule's best-interest standard — loyalty, care and individualization — require advisers to take specific actions.
Many plans don't offer annuities, and those that do see little participant uptake, but more regulatory clarity, better products and heightened interest will likely lead to greater prevalence.
