Summary: The Department of Labor’s fiduciary rule for retirement-account advisors, which takes effect in April next year, requires FAs to understand their books of business as never before.
 There will be a need for more communication with clients and more service while a former source of compensation” — commissions on retirement accounts, especially IRA rollovers — “will be prohibited."Natalie Wolfsen, chief commercialization officer, AssetMark |
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