MARCH 24, 2016 | Think Advisor
DOL says eight months; industry experts are saying at least one to three years
The Department of Labor is on the verge of implementing its rule redefining fiduciary on retirement accounts – are advisors and firms prepared for this new ERISA rule?
While there are many outstanding questions about what the final rule will actually say, a big concern seems to be the amount of time given for advisors and firms to implement and comply with the new standard.
An implementation period of at least eight months is expected, although it’s unknown if that time frame will change in the official rule.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.