DOL Resources

In April 2016, the U.S. Department of Labor announced a new fiduciary rule (“the DOL Fiduciary Rule” or “the Rule”), intended to help ensure that consumers receive retirement investment advice that is in their best interest. The Rule was originally to become applicable on April 10, 2017, but was recently delayed until June 9, 2017, with certain requirements further delayed to January 1, 2018.

As of June 9th, you must follow Impartial Conduct Standards that mean:

  • All recommendations must be in the customer’s best interest
  • You must avoid any misleading statements
  • You may only receive reasonable compensation

 

Remember, there are no ‘standard’ disclosure forms to comply with the DOL. You can use ours or use these templates to create your own:

Alternative PTE 84-24 Disclosure

LSW Disclosure Statement of Recommendations

PTE 84-24 Compensation Disclosure and Acknowledgement Form

 

Take a look at some of the training material below and an example of life before and after the DOL ruling:

DOL Fiduciary Rule Financial Professional Training

Examples Before & After DOL

DOL Compliance Webinar

 

 

You can also check out the DOL Website for updates as they become available.

 

 

 

Important: The information provided is for informational use only, and are in no way intended to constitute legal advice or represent the opinion of Northeast Brokerage. You should not act or rely upon this information without seeking the advice of an attorney. Moreover, because regulatory requirements are constantly changing, the materials appearing on this website are not guaranteed to be correct, complete, or up-to-date. Some carriers may have new requirements under this law. Further, any and all of the resources provided here are for informational purposes only and should not be construed as legal or compliance advice. Please have your agency’s legal counsel and/or compliance officer review any and all documents before use.