As you may have heard in the news, components of the Department of Labor’s fiduciary rule finally went into effect on June 9th. You can add the date as the latest significant date to the running timeline for the Department of Labor’s fiduciary rule, following:
These recent developments appear to be a victory for proponents of the fiduciary rule though how decisive and lasting a victory remains to be seen. Barbara Roper, director of investor protection at the Consumer Federation of America, told InvestmentNews, “We won for now. We’re in a better position than I thought we would be in February. I’m still concerned that key provisions could be gutted.”
Acosta, in fact, has said more public comment will be gathered to reassess the rule, which could lead to revisions or even an overhaul of the regulation.
As the fiduciary rule remains a moving target, we want to keep you abreast of the latest. We also want to remind you of what remains constant: our commitment to being a fiduciary. We’ve voluntarily, legally embraced this standard to always act in your best interest. Being a fiduciary is at the core of who we are at ML&R Wealth Management. We proudly, fiercely serve as your advocate as you strive for your highest goals.