If you haven’t been following all that is new and exciting in Department of Labor (DOL) compliance and fiduciary standards (I KNOW you love those!) you might not know that there is a big push right now to charge how fees and commissions. But the Department of Labor recently said that they *might* slow down implementation. Or that Trump might cancel it.
This is a continuation example of the earlier article about uncertainty. This is uncertainty in action.
Ameriprise has spent nearly $19MM in preparing for this change. Which will be a total loss if the DOL decides “Oh, never mind”. And that’s just one firm!