New DOL fiduciary rule sets up ‘direct confrontation’ with court precedent
November 6, 2023 by John Hilton
HOLLYWOOD, Fla. –The Department of Labor’s latest attempt at an industrywide fiduciary standard is dominating conversation here at the 42nd NAILBA Annual Meeting.
The conference kicked off Wednesday, or one day after the DOL released what it is calling a “retirement security” rule. The rule would make a fiduciary out of virtually any financial professional making recommendations to 401(k) plans and individual retirement account participants.