Department of Labor Fiduciary Ruling

Department of Labor Fiduciary Ruling

Updated on 9/15/17

DOL Proposed Delay of Fiduciary Ruling

The Department of Labor has proposed an 18-month delay - from January 1, 2018 to July 1, 2019 - of its fiduciary rule. LifePro will continue to monitor these pending changes over the coming months and will keep our advisors updated on any decisions that are made. In the meantime, LifePro has materials to help you stay compliant with the rulings that have already been put into place.  See below for those resources. 

PTE 84-24 Exemption 

On Friday, June 9, 2017 advisors acting as a fiduciary can now utilize the PTE 84-24 exemption to continue recommending retirement solutions for qualified accounts.

LifePro 84-24 Form

Why is this important?

Anyone recommending products for a qualified account will have to comply with the Impartial Conduct Standards, which states advisors must:

  • Act in the best interests of their clients
  • Provide clients with the required disclosures
  • Must accept only reasonable compensation

Whether you're head is spinning or you feel 100% ready for June 9th, LifePro has you covered with all the necessary disclosures, guides, and resources.

Guide/FAQ

Download LifePro's FAQ

LifePro's Guide/FAQ will walk you through each step you need to take to be ready for Friday, June 9th. In addition, you will gain access to all the frequently asked questions we've received from advisors like you.

Forms

Download LifePro's PTE 84-24 Form

This form will provide you with the wording and structure to make it easy for you to provide the necessary disclosures to your clients and be in compliance.