May 16, 2024

Fred Reish And Joan Neri Offer Insight On DOL’s New Retirement Security Rule in PlanAdviser

PlanAdviser sought insight on the Department of Labor’s (DOL) new fiduciary rule from benefits and executive compensation partner Fred Reish and counsel and Joan Neri. 

The rule, also known as the Retirement Security Rule, redefines financial and legal services as fiduciary in nature, ensuring that the client’s best interests are prioritized. Reish and Neri break down several items advisers should consider in their practice prior to the rule becoming effective in September. 

Reish and Neri encouraged advisers to review current policies and practices, such as “hire me” discussions, marketing and education materials and disclosures to ensure those types of communications will not cause advisers to be an advice fiduciary under the new rule. 

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