A Higher Standard

When acting in clients’ best interest, RIAs may need to ramp up fiduciary compliance activities. The new U.S. Department of Labor (DOL) rules imposing fiduciary requirements on professionals who advise on retirement accounts can have far-reaching effects. Even though registered investment advisors (RIAs) who have always held themselves out as fiduciaries might believe that they are immune to these new rules, they actually now need to consider and document how they put clients’ interests first.

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Post source : MorningstarAdvisor