DOL Unveils Fiduciary Rule That Regulates Annuity, One-Time Rollover Advice

CFP Board supports the Department of Labor’s proposed fiduciary rule, saying in a statement that it is time to update "the nearly 50-year-old framework" established under ERISA. "The outdated law does not prevent advisors from taking advantage of gaps in the regulations to steer their clients into high-cost, substandard investments that pay the advisor well but eat away at retirement investors’ nest eggs over time."

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