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Episode 1 - Unpacking the Fiduciary Rule
Join Nevin Adams & Fred Reish for the inaugural episode of "Nevin & Fred: Fresh & Best Perspectives."
Technically, it’s not a “rule”—but after years of debate, hearings, comments, litigation and preparation, there are some new rules regarding investment advice—and some help for retirement plan advisors. Nevin Adams and Fred Reish take a look at the implications. And have some fun doing it.
Episode Resources:
DOL PTE 2020-02: https://www.govinfo.gov/content/pkg/FR-2020-12-18/pdf/2020-27825.pdf
The DOL’s Prohibited Transaction Exemption 2020-02 provide relief from prohibited compensation resulting from nondiscretionary fiduciary advice. And, in the preamble to the PTE, the DOL explains that it is reinterpreting the regulatory definition of fiduciary advice so that many more recommendations to plans, participants and IRA owners will be fiduciary advice.
FAQs for Fiduciary Advice Exemption: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/new-fiduciary-advice-exemption.pdf
The DOL has issued guidance on understanding and interpreting its expansion of the definition of fiduciary advice and on the exemption from prohibited transactions resulting from nondiscretionary fiduciary advice.
DOL guidance to selecting an advisor: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/choosing-the-right-person-to-give-you-investment-advice.pdf
The DOL has issued guidance to help IRA owners and plan participants select advisors to help with rollover decisions and IRA investing. This publication offers “Questions to Ask an Investment Advice Provider”.
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By Nevin Adams
4.9
1717 ratings
Join Nevin Adams & Fred Reish for the inaugural episode of "Nevin & Fred: Fresh & Best Perspectives."
Technically, it’s not a “rule”—but after years of debate, hearings, comments, litigation and preparation, there are some new rules regarding investment advice—and some help for retirement plan advisors. Nevin Adams and Fred Reish take a look at the implications. And have some fun doing it.
Episode Resources:
DOL PTE 2020-02: https://www.govinfo.gov/content/pkg/FR-2020-12-18/pdf/2020-27825.pdf
The DOL’s Prohibited Transaction Exemption 2020-02 provide relief from prohibited compensation resulting from nondiscretionary fiduciary advice. And, in the preamble to the PTE, the DOL explains that it is reinterpreting the regulatory definition of fiduciary advice so that many more recommendations to plans, participants and IRA owners will be fiduciary advice.
FAQs for Fiduciary Advice Exemption: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/new-fiduciary-advice-exemption.pdf
The DOL has issued guidance on understanding and interpreting its expansion of the definition of fiduciary advice and on the exemption from prohibited transactions resulting from nondiscretionary fiduciary advice.
DOL guidance to selecting an advisor: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/choosing-the-right-person-to-give-you-investment-advice.pdf
The DOL has issued guidance to help IRA owners and plan participants select advisors to help with rollover decisions and IRA investing. This publication offers “Questions to Ask an Investment Advice Provider”.
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