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Fiduciary Investment Advice
Date: 5/29/2015 Start Time: 12:00 PM (ET) Duration: 100 Min.

Description
On April 14th, the Department of Labor (DOL) released its long-awaited proposed regulations describing the circumstances in which a person who provides investment advice, in connection with a retirement plan or IRA, acts as a fiduciary under section 3(21) of ERISA and section 4975 of the Internal Revenue Code. If finalized, the proposed regulations, known as the “fiduciary investment advice” rules (and sometimes as the “conflict of interest” or “conflicted advice” rules), will have a significant impact on how financial professionals provide investment advice to plan fiduciaries, participants, and IRA owners.

This seminar will review the proposed regulations defining fiduciary investment advice along with the proposed prohibited transaction exemptions intended to allow fiduciary advisors to continue to receive payments that could create prohibited conflicts of interest. The presentation will address the expected practical implications of these regulations and the anticipated timeframes for implementation.

Topics include:

  • Definition of a fiduciary investment advisor
  • Types of recommendations and advice covered by the regulations
  • "Carve-outs” for certain activities
  • Contrasts between the new regulations and the current fiduciary regulations
  • The new “Best Interest Contract” prohibited transaction exemption
  • Other prohibited transaction exemption changes related to fiduciary investment advice
  • Effective dates

Prerequisites:

There are no prerequisites for this program, however, the speaker will assume participants have experience working with retirement plans.

Level: Intermediate.

Instructional Delivery Method
Group – Internet-Based

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  1. Identify the services and activities that result in fiduciary investment advisor status under the regulations
  2. Recognize the exceptions to fiduciary status under the regulations
  3. Determine how to design services that create or avoid fiduciary relationships
  4. Utilize the Best Interest Contract prohibited transaction exemption to receive third party compensation
  5. Identify the applicability of other proposed prohibited transaction exemptions to provided services
  6. Understand the anticipated effective dates for the new rules

How to participate

You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone. Select the "Fees" link on the right side menu of this page for more information about who is authorized to connect to the program, and for the cancellation/transfer policy.

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