Fiduciary Year in Review: What Advisors Need to Know about the Evolving Fiduciary Landscape

Blaine Aikin, AIFA®, CFP®, CFA, Executive Chairman, Fi360 and CEFEX

Duane Thompson, AIFA®, Senior Policy Analyst, Fi360

December 19, 2018

As another eventful year comes to an end, fiduciaries have witnessed historic changes in the market conduct standards for investment advice.  In March, courtesy of a surprise decision by the Fifth Circuit Court of Appeals, the DOL’s long-contested fiduciary rule was vacated.  Just a month later, the SEC released a new, quasi-fiduciary rule for brokers providing retail investment advice. State insurance commissioners continued their work to plug the gap for annuity transactions with an updated ‘best interest’ rule while New York and New Jersey moved ahead with fiduciary rules of their own.  At the same time, nearly 40 excessive fee lawsuits filed under ERISA against major universities and financial services firms’ retirement plans continued to work their way through the legal pipeline.  And there was more!  Our final Fi360 webcast of 2018 reprises tumultuous events and offer insights into how this translates into re-shaping the contours of the fiduciary standard for advisors in 2019 and beyond.

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