New Fiduciary Rules Due This June - What Does It Mean For You?

  July 5, 2017

New rules designed to shift the landscape of retirement advice were set to take effect on April 10, 2017. However, this February President Trump’s Administration put the rules on a last minute hiatus, postponing their implementation to June 9, 2017.

Under the pending rules, all those who offer investment advice to plans, plan sponsors, fiduciaries, plan participants, and beneficiaries will have to avoid conflicts of interest and show that business is being carried out in the best interests of the client.

On February 3, the new administration put a hold to what will be the biggest rule changes in retirement advice for more than 40 years. The White House had asked for more evidence to show how these rules would help American investors, which are currently set to be implemented on June 9, 60 days after the initial implementation date.

For Capstone Advisory Group and its clients, the new rules will not change how business is conducted. Capstone is a Registered Investment Advisor that charges a fee for the fair and balanced advice offered. These rules will support individualized, goal-based investing for all employees we meet with, as we understand there is no one-size-fits-all solution when it comes to retirement benefits. By its very nature, this advice ethos has met the requirements of the pending rule change. But most importantly, they are the right ways to give advice.

We see these changes as a leveling of the playing field, where all advisers will have to meet the high standards already practiced at Capstone.

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