Fiduciary Rule

"This is a challenging time for the firm with the DoL rule," CEO Paul Reilly said.

The rule has cost the firm tens of millions of dollars in compliance and lost revenue.

Make sure clients understand that a 401(k) rollover could trigger a hefty tax bill, and that liquidating assets before the age of 59 1/2 could mean a hefty penalty.

The Labor Department is receiving a deluge of feedback from advisers and investors on whether to revise its controversial regulation.

The new executive will lead a team counseling advisers on how to comply with the DOL rule.

The Labor Department has indicated that further revisions to the regulation could be forthcoming.

July 24: The world’s largest independent broker-dealer has launched a new mutual fund platform to adhere to the rule.

A bill repealing rule moves on to House floor, while appropriators seek to block funding for the measure.

The nation’s largest IBD plans to launch a platform with load-waived shares from 20 companies.

Depending on business mix, some advisers could see a pay cut.