Examine Your Product Line Now to be DOL-Ready

Dec 20, 2016

Alma Piscitello, SVP and head of strategic relationships for Northern Lights Distributors, LLC article, “Examine Your Product Line Now to be DOL-Ready” was published in Ignites.

Here is an excerpt from the article:

“There is speculation whether the Department of Labor’s conflict of interest rule will be repealed under the new administration. Should enforcement of the rule persist, mutual fund complexes will need to revamp their distribution methods in response to the Department of Labor’s conflict-of-interest rule. Alma Piscitello of Northern Lights Distributors, LLC outlines which share classes are poised to do best, how fees will be impacted and what the rule will mean for managers’ relationships with financial advisers.

The Department of Labor’s fiduciary rule is poised to usher in a lot of changes for mutual fund managers, many related to distribution, starting April 10, 2017.

Streamlining Share Classes

The current share-class alphabet soup causes much confusion among investors. The fiduciary rule is poised to streamline share classes as it expedites the shift from commission-based to fee-based product sales. This would greatly benefit investors, who will have greater transparency and potentially lower costs.

But while investors may benefit, managers should brace for potentially higher platform fees and other costs.”

To read the full article, click here.

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