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MAM 179: DOL – Will the Department of Labor Proposed Regulations Go Through?

December 22, 2016 by Thomas Mullooly

https://media.blubrry.com/invest/p/content.blubrry.com/invest/MAM179_Will_the_DOL_Go_Through.mp3

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The DOL Regulations — will they go through?

Proposed Department of Labor (DOL) regulations are slated to go into effect in April 2017.  Will this actually happen?

The DOL began working on these regulations (“fiduciary regulations”) back in 2010.

DOL, Department of Labor

Six years later, the rule was set in motion with an enactment date of April 10, 2017 and full enactment by January 2018.  But there now seems to be some question whether the new incoming Trump administration will allow the DOL regulations to see the light of day.

The proposed regs are forcing many in the investment community to reexamine their current business practices.  the biggest issue is firms cannot “roll the dice” and hope the Trump administration will terminate it, scale it back or delay it.  That’s a risky bet.

Here are some time spots in the podcast episode 179.  Feel free to skip to different spots to pick up the conversation:

2:45 Thanks to @ritholtzwealth for their very pithy way of explaining the role of a fiduciary!

3:15 Explaining a difference between brokers and advisors

4:45 Potential challenges for 401k accounts and IRA accounts

5:40 Some proposed changes under DOL

Thank you for listening to our podcast!

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About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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