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

On Feb. 3, 2017, the White House issued a memorandum directing the Department of Labor (DOL) to review the fiduciary rule that was announced in April 2016. The rule introduced a fiduciary standard that starts to take effect in 2017. This rule 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 review period, 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

Your life is about more than financial goals. That’s why we give you more than investment advice. Your ongoing and personal relationship with your Ameriprise financial advisor includes:

  • A collaborative, long-term planning approach to help you feel more confident about retirement and other important milestones along the way
  • Access to a broad range of products and solutions to help bring all your plans to life
  • Full and transparent information about the benefits, risks and costs for every solution we recommend
  • The assurance of working with a strong and stable company with more than 120 years of history

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. 

Our mission remains more relevant than ever

At Ameriprise, our mission is to help give clients the confidence they need to live brilliantly while preparing for financial milestones today, tomorrow and in retirement. The ongoing and personal relationships clients have with their advisor will continue with:

  • Our unique, collaborative approach to helping clients feel more confident about retirement
  • Our focus on helping clients achieve their personal goals and dreams using a disciplined, long-term planning approach
  • Access to a broad range of products and solutions to help bring our clients' plans to life
  • Full and clear information about the benefits, risks and costs for every solution we recommend
  • The assurance of working with a strong and stable company with more than 120 years of history