US. Retirement industry to undergo major changes with or without DOL fiduciary rule
The business of saving for America’s retirement is changing. The retirement industry is facing a $7.7 trillion gap, and the Department of Labor’s new fiduciary rule, which states that advisers must give clients the best advice at a reasonable price, is at risk.
The rule was originally supposed to take effect on April 10, but President Donald J. Trump in February ordered its review, resulting in the DOL’s recent proposal to delay the rule’s implementation for 60 days. Regardless of the rule’s final outcome, firms are transforming their approach to the retirement side of their businesses to become more transparent on fees and suitability and are moving forward with changes anyway because it makes sense for advisers and their clients.
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