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Loaded with teeth and better crafted, the latest 'DOL Rule' attracts 19,000 comments -- and SIFMA, Charles Schwab Corp and Fidelity wrote words by the thousands in fierce opposition

Last time around, in 2016, federal regulators imposed a very RIA standard on brokers and insurance agents but it failed in court; now, the DOL is determined to avoid that mistake again, ERISA lawyer says.

Author Lisa Shidler January 6, 2024 at 3:52 AM
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Jason Roberts: The outcome of the advice rule is exactly what we had in 2016, but they just wrote it in a creative way.
Brooke Southall and Keith Girard contributed to the editing of this article.

401(k) Stories

Dan Wass

Dan Wass

January 6, 2024 — 5:41 PM
I retired at the end if 2023 and part of me decision is die the all new rules. The idea the retires will receive better advise is due to having so many restrictions is crazy. If an advisor has to spend days to change someones investments (like with my wife's accounts at the moment) they are not going to help the acerage Joe. It just wouldn't pay for their time, then you have the spector of the DOL second guessing what you do. My personal IRA was never in a 401k or 404b. The court shouldn't allow the DOL to tell me what I cando with my IRA. No regulation is ever going to stop the bad actores just make it more difficult for the good.
James Watkins

James Watkins

January 9, 2024 — 12:56 PM
Valuable analysis by all. Thank you!

Mentioned in this article:

Pension Resource Institute, LLC
Compliance Expert
Top Executive: Jason C. Roberts

Retirement Law Group, PC

Top Executive: Jason C. Roberts

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