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How Will Fiduciaries Get Paid? Breaking Down the DOL Fiduciary Regulation


Written by: Lance Schoening | Principal Financial Services, Inc.

By now, I hope you understand how the DOL fiduciary regulatory package has changed the activities that make you a fiduciary under the Employer Retirement Security Income Act (ERISA).

But what does that really mean for you and your practice?

For starters, you’ll want to understand what activities in the new world are considered fiduciary in nature. You’ll then want to know how you get paid for your services when you’re a fiduciary. This short video sums it up pretty well.

Now, we certainly don’t have all the answers and are still interpreting the DOL fiduciary regulatory package ourselves. And, while there are options for how you may be compensated, your broker-dealer will likely select a specific path, so look to them for guidance. They are your best source of information and resources to help you through the transition.

What questions do you have about working with plan sponsors in the post DOL-regulatory world? This blog series is dedicated to addressing your questions and top concerns in this arena. For additional tools, resources and information about the DOL regulatory package, visit us here.

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