What Does the DOL Rule Mean for Me?
Friend, I want you to know that I am and always have been dedicated to helping you make financial decision that are first and foremost in your best interest.
I am sure that you have heard about some of the changes that our government has rolled out recently. One of the many laws that have been added, changed, or altered is the Department of Labor (DOL) Fiduciary Rule, which has been dubbed one of the biggest legal changes governing the financial industry in years. It’s not a huge ordeal to me because it is just requiring that I serve you in a way that I have served you all along.
President Trump recently directed the DOL to re-evaluate the potential unintended consequences of the rule. This opens the door for the DOL to delay the applicability date of the rule. Though the rule is still scheduled to be applicable on April 10, it remains uncertain whether the rule will be delayed or will take effect as it is currently written.
You may hear a lot in the coming weeks and months about Fiduciaries. Being a fiduciary requires financial advisers to put the needs of their clients before their own – a non-negotiable belief that my practice is built upon.
Throughout my career, I have embraced my responsibility to put YOUR best interests and YOUR financial goals as my goal and objective. I started my practice because I wanted to help people achieve their goals and dreams, and seeing that happen is very meaningful and fulfilling to me personally.
Will the fiduciary rule be delayed further? Will this fiduciary rule be implemented? Will some other legal fiduciary standard come into play? I don’t know the answers to these questions. What I do know is this: that no matter what comes out from a legal or regulatory standpoint, as your Financial Adviser, I always have been and continue to be working with you to achieve your goals and dreams. Your best interest is what my practice was founded upon, and is still built upon today - and that will never change.”