DoL’s Retirement Security Rule

The Department of Labor adopted a final rule designed to protect those saving for retirement from bad investment advice. Who’s an investment advice fiduciary that has a duty of prudence and loyalty to retirement investors? Basically, the rule says it’s anyone making investment recommendations on a regular basis or who says they’re acting as a fiduciary (the rule is more complicated). The rule becomes effective on September 23, 2024, but there may be litigation challenging the rule. #IdeaoftheDay