Presentation: Adopting the Department of Labor's (DOL) final "Fiduciary Rule" on standards for retirement investment advice
Advisors will be assessed against Best Interest Contract Exemption (BICE) from 1 January 2018 and must be able to assure clients that advice given is in their interest.
- Assessing how much impact the rule would have on business: distribution; supervisory changes and disclosure changes
- What are the costs of an infrastructure for compliance?
- Modelling the potential risk
- Structuring the transition to limit disruption
- Providing agents with information and support during the transition
- How would the rule alter the landscape of the insurance market as smaller players withdraw from the market or merge with larger companies and others design 'lighter' products in order to comply?
- Assessing the impact from President Trump's executive order
Stephen P. Wilkes, Partner, The Wagner Law Group
