Navigating the DOL Fiduciary Ruling

Advisor discussing retirement plan

If you’re a Financial Professional, or work in any capacity in the Financial Industry, you’re no doubt aware of the recent new Department of Labor rule relating to retirement plan accounts. While there are rumors that the incoming administration may revisit or eliminate the new requirement – that all Financial Professionals helping retirement savers will be held to a fiduciary standard – nobody ever accused Washington D.C. of doing anything in a timely manner. The change is not scheduled for full implementation until 2018, so there is certainly time for the slow churn of politics. For now, though – the industry is preparing for the change.

It’s important to remember that even long-term savers don’t always understand the term or have a clear idea of how things may affect them. An email or letter to your client list, and perhaps a phone call to your A-List clients, is definitely in order. It will be reassuring to them, and help to solidify your relationship.

If you’re an RIA or CFP™, nothing’s really changing; you’ve always been held to the fiduciary standard. While your clients might already be aware of what this means, and how this pertains to them and their savings, this new rule has been in the news, so there may be questions. You should be reaching out to them.

You likely touch base with your clients regularly, even when the world doesn’t seem to be changing so rapidly. A service like Marketing.Pro makes sending timely and topical emails, letters, newsletters, greeting cards, and more both fast and easy.


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