Demystifying the DOL Part 2: Key Decisions for the Advisor

DOL Fiduciary Rule Key Decisions for the Advisor

Continue to Sell Products for Qualified Assets? At the highest level, financial advisors must decide whether the cost and effort of enhancing operations to accommodate all of the expectations of the DOL are such that it makes sense to remain in the business. Advisors who sell predominantly life insurance, LTC, or DI products with the occasional annuity sale may consider exiting the qualified fund business altogether. Although the legal liability is borne by the Financial Institution entering into the Best Interest Contract, the implications to the financial advisor may be considerable if the business practice must be altered substantially to continue to sell products for qualified funds. Continue to Sell Qualified Assets for Variable Compensation? The second consideration for an advisor is whether to accept variable compensation (i.e. commissions, marketing allowances, etc.) for the sale of annuities and mutual funds for qualified accounts. If the advisor alters his or her …


Webinar – DOL Fiduciary Rule: 3 Cs of Compliance

In a month and a half, the DOL Fiduciary Rule will take effect and many in the financial industry are adopting a “wait and see” approach to the rule, with plans to adapt their business once the rule takes effect.

Ebix Consulting partnered with some of the industry’s leading  experts to develop a webinar that addresses your concerns about the impending fiduciary rule and discusses a number of ways you can start preparing now.


To learn more about how you can implement solutions for the DOL Fiduciary Rule, contact us today!

Resolution To Kill DOL Fiduciary Rule Is Approved By Senate – But Will It Stick?

Resolution To Kill DOL Fiduciary Rule Approved

Just as quickly as it was passed, the Senate approved a resolution to kill the DOL Fiduciary Rule on Tuesday (May 24). President Obama has made it clear that he will veto the resolution should it find its way onto his desk. The resolution passed with a vote of 56-41, a far cry from the 290 supermajority needed to override a presidential veto. Those who support the rule argue that it will protect the  middle class investors from advisors who may be recommending high-fee products that reap high profits for the advisor and high risk/low reward for the investor. While those who oppose the rule argue that the rule will end up hurting the middle class by resulting in significant increases in regulatory costs for advisers  making investment advice much more expensive. And those who oppose the regulation have been quite vocal about their disapproval. Senate Majority Leader Mitch McConnell has warned that fees for investing could more than …