Approximately 1,050 people registered for the 19th edition of the audiocast, which covered topics such as: an update on the fiduciary rule, an update on the special financial institution status for IMOs and the sale of fixed indexed annuities, the impact of the Congressional proposals for retirement plans and the impact on retirement plans of other priorities of the Trump administration.
PLANADVISER’s article, “What Comes Next with DOL Conflict of Interest Standard,” featured Brad’s commentary that while President Trump has issued a memo seeking to freeze all ongoing regulatory projects, it may not be easy to repeal it entirely: “While its applicability dates are forthcoming, it is already a properly implemented regulation, and so it is not something that can be just whisked away with a stoke of a pen.”
A Financial Advisor article referenced Fred’s suggestion that advisors pay close attention to how they capture and make recommendations for rollovers of employer-sponsored retirement plans. Brad and Fred further noted that while the DOL rule may be repealed, some form of fiduciary standard will still likely be passed by Congress.
“I think it’s beyond the compliance situation now," Fred said. “It’s a business model.”
Read “What Comes Next with DOL Conflict of Interest Standard” [PLANADVISER].
Read “Fiduciary rule delay could happen ‘any day now” [Employee Benefit News].
Read “6-Month DOL Rule Delay Expected Within Days” [InsuranceNewsNet].
Read “Advisors Should Scrutinize Rollover Advice In Preparing For DOL Rule” [Financial Advisor].