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BOSTON, April 11, 2016 -- The Fiduciary Rule is now the “Law of the Land” and financial services institutions and professionals must choose a future course of business. These choices are:
- Non-Fiduciary: Limit service to education and maintain compensation
- Audited Advice: Using level fees or certified computer models, give advice and retain compensation
- Fee Only: Assume full fiduciary responsibility and replace method of compensation
- Best Interest Contract Exemption: Adopt BICE and keep compensation with some restrictions.
DALBAR provides solutions to support whichever choices are selected so as to minimize risks, grow business and comply with the new “laws”. The solutions include
- use of standardized compliance policies,
- contracts and guardrails,
- upgrading services for web sites and phone scripts,
- contact center monitoring and certification,
- audit certification,
- training and RF Accreditation.
“The new fiduciary rule has now become a reality and discussions about the best course of action must now turn into decisions, planning and execution in order to operate successfully in the new environment,” said Kathleen Whalen, Managing Director at DALBAR.
For more details on the DALBAR Choices and corresponding Solutions, contact Brooke Halloran at [email protected] or via phone at 617-624-7273.
DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.
Contact: Kathleen Whalen 617.723.6400 [email protected]
