Neighbor News
DOL Fiduciary Rule Implementation Workshop
Somerset County Business Partnership Session May 19
The Somerset County Business Partnership Financial Services Special Interest Group (FiSIG) will present “The New DOL Fiduciary Rule – What it Means to Your Business” on Thursday, May 19, 2016 from 8:30 A.M. to 9:30 A.M. The informative workshop will take place Office NJ, 991 US Highway 22, Suite 200, Bridgewater, New Jersey.
In early April, 2016, the Department of Labor (DOL) released the final version of the Fiduciary Rule that will impact anyone who receives investment IRA or company 401(k) investment advice. The updated Rule is potentially the most significant change in retirement and IRA since the Employee Retirement Income Security Act of 1974.
Beginning next April any firm receiving compensation for providing investment advice on IRA or 401(k) accounts must adhere to a fiduciary standard that requires investment advisers to act in the best interest of their clients. While most firms operate under this standard, some work under a less strict standard which requires the investments sold to be “suitable” but not necessarily in their best interest.
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Presenter is Joseph Costello, financial advisor with Royal Alliance Associates, Inc. He is registered with the SEC as an Investment Advisor and with FINRA as a Broker.
The roundtable discussion will include financial professionals and business people who will discuss the impact of the recently enacted ruling. The session will be geared to both financial service professionals and individuals approaching Social Security benefit age.
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The FiSIG mission is to educate Business Partnership members on issues affecting personal and professional financial lives that are often intertwined in small and medium sized businesses. The group meets regularly to discuss economic and legislative issues that impact profitability, share best practices, and plan and implement educational workshops.
The session is free for Business Partnership members and $30 for non-members. Pre-registration is recommended and may be accomplished at http://bit.ly/5-19-16DOL or by calling the Business Partnership at 908-218-4300.
