Understanding the U.S. Department of Labor fiduciary standard rule

On April 4, the Department of Labor (DOL) released a regulation delaying the applicability date of the fiduciary rule by 60 days. The rule — including the standards of conduct that accompany it — is now slated to become applicable on June 9, 2017. The rule introduces a fiduciary standard that applies to financial services firms and advisors across the industry when making recommendations and providing fee disclosures for qualified retirement accounts such as IRAs. 

As America's leader in financial planning,* we've always taken our fiduciary responsibility very seriously. Today, we already work under the fiduciary standard for financial planning and managed accounts overseen by the Securities and Exchange Commission (SEC). We’re also overseen by the Financial Industry Regulatory Authority (FINRA) under the suitability standard for investment recommendations. 

During this delay period, we will continue to monitor any changes to the rule. We will continue to work as we do today – putting our clients’ needs first. As needed, Ameriprise and our advisors will work directly with clients impacted by any changes to ensure that any resulting updates are clear and understandable.

Putting your needs first is our foundation

When it comes to what matters most to you in life — today, tomorrow and in retirement — you need advice you can trust from people who care. Doing what’s best for you has always been our focus. It’s just one reason we’re America’s leader in financial planning and have been helping millions of people live brilliantly for more than 120 years.

Holistic financial advice with your best interests at heart

At Ameriprise, we believe in the power of a personal relationship with a financial advisor who cares about what’s most important to you in life, and helps you achieve your goals at every stage in your journey. 

When you choose to work with an Ameriprise financial advisor, you can benefit from: 

  • A comprehensive, long-term financial planning approach with built-in flexibility to accommodate life’s changes 
  • A broad range of products and solutions to suit your specific goals, needs and risk tolerance
  • Full and transparent information about the benefits, risks and costs for every solution we recommend
  • Research and online tools to track your progress
  • The assurance of working with a strong and stable company with the  reputation of putting clients first for over 120 years

There is no substitute for the confidence that comes from a personal relationship with a trusted ally. Someone who knows you and understands your goals. A professional from a company that built its reputation on having your back. 

When you have the right financial advisor, life can be brilliant.