Webinar: DOL Fiduciary Rule - First Look Webinar by CreativeOne

About This Webinar

On October 31, 2023, the Department of Labor released a proposed rule entitled “Retirement Security Rule: Definition of an Investment Advice Fiduciary," the latest version of its fiduciary rule.

We invite you to watch our conversation from November 2, 2023 as we delve into our first take of the proposed rule and what it’s going to mean to you.

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Here is what we know about the rule so far:

Who is considered a fiduciary: The proposal expands the definition to include one-time rollover advice.

Amendments to PTE 84-24: An independent producer must provide additional disclosures and insurance carriers will also be required to supervise rollover sales.

Amendments to PTE 2020-02: The Department did not make any significant changes to 2020-02, but merely proposed clarifying amendments.

Compensation Targeted: The rule could limit compensation agents could receive beyond commissions paid by the carrier.

Timing: The DOL will open a 60-day comment period on the proposal, and hold a public hearing on or around December 18, 2023.

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Regardless of the outcome, CreativeOne will provide you and your practice the tools, resources, and information you need to protect your clients, and your practice.

Presenters

Andrew Payne

VP & General Counsel

Andrew Payne is the Vice President and General Counsel of Creative One Marketing in Leawood, Kansas. Andrew serves as the chief legal officer for Creative One. He has been active in the development of the NAIC’s MDL #275 Best Interest Standard Revision and the each flavor of the Department of Labor’s Fiduciary Rule. Andrew serves on the Board of Directors for the National Association for Fixed Annuities (NAFA) and previously served as the Chairman of NAFA’s Government and Legal Affairs Committee. Prior to joining Creative One, Andrew worked in private practice.

Dennis Mattern

VP - Market Development

As an educator and strategist, Dennis believes in helping advisors become the best possible version of themselves. Throughout his career, Dennis has worked in the financial services industry—salesman, financial advisor, recruiter, sales consultant, team manager, regional sales director, and even a founding member of a financial services firm. Every role has taught him something about the industry and together they add up to more than 26 years of invaluable experience.