The Division of Labor is proposing a brand new rule to crack down on conflicts of curiosity for advisors working with purchasers planning for retirement. The rule would cowl advisors who make one-time suggestions involving the rollover of an employer-sponsored plan into an IRA or annuity.
The Biden administration is billing the proposal, which might additionally apply to advisors working with retirement plan sponsors, as an effort to curb what it calls junk charges in an space of the recommendation sector that operates outdoors the scope of the Securities…
