DOL Fiduciary Rule Post-Mortem: How Long Will the Taste Linger?
Fiduciary NewsAugust 28, 2018
“It is very likely that many advisors who previously relied on the safe harbors in the rule will continue to rely on the DOL’s Field Assistance Bulletin 2018-02 that allows conflicted advice to retirement plans and account holders as long as a good faith effort is made to comply with the Impartial Conduct Standards,” says Duane Thompson, Senior Policy Analyst at Fi360 in Pittsburgh, Pennsylvania. “As firms became more comfortable with operating in a fiduciary environment, it’s certainly possible they will continue to comply with these fundamental duties of loyalty and care even if the FAB is superseded by other guidance.”
