Advisors' Handling of Your Retirement Money Could Be Affected by a New DOL Rule Industry groups are already at odds over the Retirement Security Rule.

The purpose of the DOL Rule is to shield retirement investors from recommendations made by advisors who have a conflict of interest and which are inappropriate for the client. The Biden administration's Retirement Security Rule, which was unveiled on April 23, 2024, has once more placed fee-only financial counselors against commission-based insurance experts. Professionals have responded in a variety of ways, and there are several things to take into account for people looking for financial guidance. What is the New Fiduciary Rule for Investment Advice? The Retirement Security Rule, sometimes known as the "DOL Rule," mandates that advisors working with retirement savings choices, such as annuities, qualifying plan rollovers, and 401(k) retirement plans, adhere to a fiduciary standard that is thought to be the harshest in the business. Retirement advice's existing fiduciary definition has not