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DOL Releases Fiduciary Rule ­ Asset List Eliminated

By April 6, 2016No Comments

IPA Members & Friends –

Over the past year, the IPA worked closely with our Members, our partners at The Eris Group and our attorneys at Jones Day to ensure that the DOL fiduciary proposal would not unduly burden members of the Direct Investments community. We specifically asked that Asset List be eliminated, given that it did not include non-traded REITs, non-traded BDCs or Private Equity as acceptable assets to be sold under the new rule. We are happy to inform you that the Asset list has been eliminated from the final rule.

Today the White House announced that the Department of Labor has finalized a rule and related exemptions that fundamentally redefines the fiduciary standard.

Later this morning at 11:30 a.m. EDT, Labor Secretary Tom Perez is expected to make his first public statements regarding the new fiduciary rule at an event at the Center for American Progress.

The DOL website has updated information on the final rule, including an FAQ, a Fact Sheet and a comparison chart that explains changes from the original version.


Politico: Labor Department softens final fiduciary rule for finance industry
WSJ: U.S. Unveils Retirement­Savings Revamp, but With a Few Concessions to Industry

Wealthmanagement: DOL Releases Final Fiduciary Rule NEXT STEPS

Along with our partners at The Eris Group, the IPA is closely monitoring all new developments and will be communicating a strategic plan in the days ahead.

In partnership with our attorneys at Jones Day, and with the generous support of CNL Financial, the IPA is hosting an exclusive webinar to answer your questions surrounding the DOL Fiduciary Rule, and how it will affect your business. The webinar is scheduled for Monday, April 11 at 2 p.m. EDT and details will be announced soon.

Are you passionate about Policy Advocacy? The IPA Policy Advocacy Committee is always looking for new leaders to help build this important initiative. For more information contact Dan Wagner at or Kamal Jafarnia at