DOL DynamIQs Quick Guide

On April 6, 2016, the Department of Labor (DOL) issued the final fiduciary rule (Rule). The new Rule is a package of separate rules creating, amending or revoking existing law regarding retirement accounts. It applies to anyone meeting the DOL’s criteria without regard to types of licenses or products used. The Rule is the most significant change in the law since the Employee Retirement Income Security Act of 1974 (ERISA) was passed. Whether your clients are ERISA plan sponsors, ERISA plan participants, ERISA account beneficiaries or IRA owners, this Rule will likely have a significant impact on your business—regardless of if you serve them as a registered representative or investment advisor.