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DOL fiduciary rule: When advisers actively seek to use BICE

June 16, 2017

DOL fiduciary rule: When advisers actively seek to use BICE

Many advisers are embracing an exemption they’ve frequently derided, even though a less-contentious one is available for annuity sales

June 14, 2017 | by Greg Iacurci | InvestmentNews.com

To opponents of the Department of Labor’s fiduciary rule, the best-interest contract exemption is something akin to the spawn of Satan.

This provision of the rule, which raised investment advice standards in retirement accounts, allows broker-dealers to continue providing investment advice deemed conflicted by the DOL, but under certain conditions.

It inspires such ire and consternation primarily due to the fact that it exposes broker-dealers to class-action lawsuits from investors. BICE also comes with several different disclosure requirements that stakeholders are none too fond of.

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.