New Rules Coming for Brokers Who Give Retirement Advice – Obama Endorses

David F. Royer

High Everyone,

Please read the 2 short articles below. In a nutshell; Brokers who work for Broker Dealers may soon face the same fiduciary responsibility as Registered Investment Advisors. This action, when it becomes law, will likely increase the already growing migration from the Broker Dealer world to the Registered Investment Advisory world, which is already held to the higher fiduciary standard. If you are offering advice about IRAs, 401k, and other retirement plans; get ready for a major shift in the landscape.


Currently Broker Dealers are responsible to ensure that their Brokers make suitable recommendations. This does NOT mean that their recommendations are always in their client’s best interest and often what is the best for the client takes a back seat to what is best for the Broker or Broker Dealer. This is where the abuses can be found and this is what the new rules promise to correct. We shall see.

On the flip side Registered Investment Advisors are obligated, by oath, to always act in their client’s best interest – now and in the future. This greater level of Fiduciary Responsibility translates to clients receiving superior advice.


I believe a similar level of responsibility may be mandated for those who sell annuities and other retirement related insurance products. I also believe this change will arrive in the insurance industry sooner than most will be prepared for.



  • If you have a Series 6 or 7 and you are currently associated with a Broker Dealer, you may want to consider migrating to an RIA platform to better serve your clients and generate a stable residual income for your practice.


  • If you have  an insurance license only, you should add managed money to your practice “as fast as you can” by associating with an RIA platform that understands the value of Safe Money Alternatives as well as Managed Money.  Doing so will increase your value proposition to your clients and generate additional and substantial residual income for you and your family.


  • Secure a relationship with an exceptional RIA platform that understands the need for both annuities and securities in a well balanced portfolio. Look for a Registered Investment Advisory Firm that is prepared to help you pass your Series 65 and give you the one-on-one training it will take for you to become the holistic advisor your clients deserve.


Below are the links to the articles:


New rules coming for broker retirement advice

The Labor Department is readying new proposed rules on retirement investment advice, and the battle lines are being drawn.

Read more:

Sent from the CNBC


Obama tells DOL to move forward with fiduciary redraft

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