Breaking down the DOL fiduciary regulation: How will fiduciaries get paid?

By now, I hope you understand how the DOL fiduciary regulatory package has changed the activities that make you a fiduciary under the Employer Retirement Security Income Act (ERISA). But what does that really mean for you and your practice? For starters, you’ll want to understand what activities in the new world are considered fiduciary in nature. You’ll then want to know how you get paid for your services when you’re a fiduciary. This short video sums it up pretty well.

Now, we certainly don’t have all the answers and are still interpreting the DOL fiduciary regulatory package ourselves. And, while there are options for how you may be compensated, your broker-dealer will likely select a specific path, so look to them for guidance. They are your best source of information and resources to help you through the transition.

What questions do you have about working with plan sponsors in the post DOL-regulatory world? This blog series is dedicated to addressing your questions and top concerns in this arena. So, please share any questions or comment below. And, for additional tools, resources and information about the DOL regulatory package, visit www.principal.com/advisorfiduciary.

t16090801l8 – 9/2016

 

Affiliation Disclosure

© 2016 Principal Financial Services, Inc., 711 High Street, Des Moines, Iowa 50392

The subject matter in this communication is provided with the understanding that Principal® is not rendering legal, accounting, or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.

Principal, Principal and symbol design, and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

Insurance products and plan administrative services provided through Principal Life Insurance Co. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., 800.547.7754, member SIPC and/or independent broker/dealers. Principal Life, Principal Funds Distributor, Inc. and Principal Securities are members of the Principal Financial Group®, Des Moines, IA 50392.