Brad Campbell Quoted in Investment News Regarding DOL Fiduciary Rule FAQs and the Level Fee Option
Brad Campbell was quoted in an Investment News article titled, “DOL fiduciary rule FAQs emphasize dangerous compensation practices — including for RIAs.” The DOL released a document on October 27 that covered 34 of the most frequently asked questions regarding the fiduciary rule, with several questions focusing on “level-fee fiduciaries.”
Brad commented on the guidance regarding the Level Fee Option in the Best-Interest Contract Exemption, noting that DOL clarified that the level fee cannot include commissions, revenue sharing or other third party payments, even if such payments are levelized.
“That’s unfortunate because it significantly limits the applicability of the level-fee option,” Brad said.
Read “DOL fiduciary rule FAQs emphasize dangerous compensation practices.”