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A Better Partnership


Feb 2017
February 03, 2017

DOL Fiduciary Rule Delayed

This afternoon, President Trump signed a presidential memorandum order imposing a 180-day delay of the Department of Labor’s (DOL) “Fiduciary Rule.” The order directs the DOL to cease implementation of, and completely reevaluate, the Fiduciary Rule. The President expects the DOL to either significantly change or rescind the Fiduciary Rule.

The Fiduciary Rule, originally effective June 7, 2016, was scheduled to become applicable on April 10, 2017, with full compliance required beginning January 1, 2018.  The Fiduciary Rule extended the ERISA fiduciary standard of care to broker-dealers, investment advisers, insurance agents, banks, and other advisors to retirement plans and IRAs.

We will keep you posted with any further developments.  If you have any questions in the meantime, please contact Lisa Zimmer at or 248.784.5191 or Shane Hansen at or 616.752.2145.

NOTICE. Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you.

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