Will DOL's Rule Lay an Accidental Fiduciary Trap?

What You Need To Know

• In the preamble to DOL's proposed fiduciary rule, Labor officials give examples of people, like car dealers or HR employees, who are not subject to the rule.
• Labor officials say that, in the end, a judgment must be made based on the totality of the facts and circumstances.
• Some commenters in the insurance industry worry that fears of becoming an accidental fiduciary could have a chilling effect on financial guidance.