Industry girds for DOL fiduciary rule
February 4, 2013 by Arthur D. Postal
Insurance agents and brokers are awaiting with bated breath a revised proposal from the Department of Labor (DOL) that would establish new rules for sale of investment products to beneficiaries of company-sponsored retirement plans and IRAs.
The industry universally fears that such a regulation, if finalized, would eliminate commissions as a source of broker-dealer compensation for such accounts.
They believe that this would potentially “price out” the majority of American IRA holders from affordable financial advice. Click here to read…