The final version of the DOL’s proposal is expected in the next 30 – 45 days. It is expected to change the way advisors sell products in retirement accounts and decrease the commissions generated from those sales. There are advisors that have spent years building a recurring revenue business utilizing investments that pay a trail commission and the DOL’s proposal may force that business to change virtually overnight. The solution, according to the DOL is to do more fee based business and RIAs are cheering as they believe they have the best business model for clients. However, the DOL’s proposal may also impact how RIAs service clients. If you are your own RIA or considering forming your own RIA, then you will want to know how the DOL proposal may impact your business as well.
Reposted from Finacial Planning Magazine READ THE ENTIRE ARTICLE HERE