DOL Proposes Fiduciary Exemption For Retirement Plans
Though Jasmin Sethi, associate director of policy research at investment research Morningstar sees the new proposal from the DOL as a positive, she points out how it carries the financial services industry further into a grey area.
“Brokers could debate if it’s an isolated event and not have to use fiduciary standard, while clients might not read all these [required] disclosures, they’re complicated things,” said Sethi