Sponsored by eMoney Advisor
The U.S. Department of Labor’s fiduciary rule is vastly different from the previously applied suitability rule. The evidence required under a fiduciary role is more precise, the implementation of policies and procedures is more exacting, and the ramifications of failure are reputational, financial, and regulatory. The rule will impact the industry’s vendors, financial advisors, and clients, but how can market participants guess how to progress forward in such a limited amount of time?
Based on a series of in-depth interviews with executives at top advisory firms, this paper explores how advisors and firms are dealing with both the new DOL Rule and the general industry shift toward a fiduciary standard.
What you’ll find inside:
- How the Rule affects each aspect of your business from product offerings to the client experience you offer
- What most industry experts believe to be sufficient evidence of best interest
- The multiple tech solutions needed to meet fiduciary requirements
- How most industry participants expect the Rule to expand beyond the DOL