West Loop Financial LLCIt’s Still Open Season on Retirement Plan Participants – West Loop Financial LLC https://www.westloopfinancial.com Evolutionize Site Wed, 19 Aug 2020 20:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.22 It’s Still Open Season on Retirement Plan Participants https://www.westloopfinancial.com/2016/05/02/its-still-open-season-on-retirement-plan-participants/ https://www.westloopfinancial.com/2016/05/02/its-still-open-season-on-retirement-plan-participants/#respond Mon, 02 May 2016 09:00:24 +0000 http://evolvemypractice.com/?p=2743 Don’t get me wrong. I believe the new fiduciary rule recently announced by the Department of Labor (DOL) will be a net plus for retirement plan participants. The rule expands the definition of “fiduciary investment advice” and requires all financial professionals (a ubiquitous term that encompasses registered investment advisors, brokers and insurance company representatives) to...

The post It’s Still Open Season on Retirement Plan Participants appeared first on West Loop Financial LLC.

]]> Don’t get me wrong. I believe the new fiduciary rule recently announced by the Department of Labor (DOL) will be a net plus for retirement plan participants. The rule expands the definition of “fiduciary investment advice” and requires all financial professionals (a ubiquitous term that encompasses registered investment advisors, brokers and insurance company representatives) to provide retirement recommendations that are in your best interest.

Previously, only registered investment advisors had this obligation. Others did their best to obscure the fact that they could (and often did) have undisclosed conflicts of interest, permitting them to recommend (and include in retirement plans) expensive investment products that did not meet the fiduciary standard.

Read the rest of the article at The Huffington Post.

The post It’s Still Open Season on Retirement Plan Participants appeared first on West Loop Financial LLC.

]]> https://www.westloopfinancial.com/2016/05/02/its-still-open-season-on-retirement-plan-participants/feed/ 0