Labor Secretary Acosta recently confirmed that the Department of Labor (DOL) Fiduciary Rule will become applicable on June 9, declining an additional extension to the previously issued delay. The Fiduciary Rule requires that advisors and financial institutions offering investment advice on retirement accounts adhere to a new, government-defined standard with respect to those accounts. While many aspects of the rule will take effect on June 9, the DOL will continue its review of the regulation until the final implementation date, currently scheduled for January 1, 2018.

It is important to note that while the rule might change some aspects of how we work together, we will continue to put your needs first, and we remain committed to supporting your financial future through sound, tailored advice. As always, our focus remains on selecting investments that we believe will give you the best chance of meeting your goals and strengthening your long-term financial plan.

We have been monitoring policy updates closely and are committed to complying with the rule while preserving as much flexibility as possible for your investment selection. We’ll let you know if and when you need to take action and will guide you through any changes.

Should you have any questions about your financial plan or the recent DOL changes, please feel free to call us. We look forward to speaking with you.

Compliance approval M17-028821