How is your financial adviser paid? It pays to ask
There are three basic methods of compensation, and which one applies to your adviser could affect the advice you get
Source: cbsnews.com
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DOL Finalizes Prohibited Transaction Investment Advice Exemption
Advertisement DOL Finalizes New Prohibited Transaction Exemption for “Investment Advice”, With Statement That Fiduciary Standard May Apply to IRA Rollover Guidance Wednesday, January 20, 2021 On December 18, 2020, the U.S. Department of Labor (the “DOL”) published in the Federal Register a final prohibited transaction class exemption (the “Exemption”) that allows “investment advice” fiduciaries to provide advice that affects their compensation and to engage in otherwise prohibited “principal transactions.” Importantly, the preamble to the Exemption (the “Pr...
Source: natlawreview.com