Defining ‘Reasonable Comp’ Under the DOL Rule
June 13, 2017 by Cyril Tuohy
The best way for financial advisors to think about “reasonable compensation” in the fiduciary sense is to imagine a scatter graph.
And the best place to be on that graph is the dot in the middle of the pack of other dots.
Outliers on either side – high or low, left or right – of the swarm isn’t where advisors want to be if they are going to argue that they were reasonably compensated for the sale of an annuity into a retirement account, fiduciary rule experts say.
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Originally Posted at InsuranceNewsNet on June 9, 2017 by Cyril Tuohy.
Categories: Industry Articles