Treichel reminds us about the importance of ERISA fiduciary status for investors

June 19, 2024
Business Meeting
The Department of Labor’s new Retirement Security Rule, effective on September 23, 2024, is aimed at expanding ERISA fiduciary coverage to include more financial professionals and account types like IRAs. In a recent article, Bonnie Treichel, Chief Solutions Officer at Endeavor Retirement, highlights the rule’s focus on ensuring high standards of care and loyalty in investment recommendations. Fiduciary status under ERISA hinges on functions performed, not titles, and imposes the highest legal duty of loyalty to investors. Despite pending legal challenges, understanding ERISA coverage is crucial for investors managing retirement accounts, ensuring advice is in their best interest, and considering consolidation for clarity and oversight. To learn more, click here to read the full article Fiduciary vs. Non-Fiduciary Adviser: Understanding the Difference for Your Retirement.

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