Retirement saver protection rule has died — for the second time. What it means for investors

The Labor Department fiduciary rule raised the legal standard for brokers, insurance agents and others advising clients on rolling over assets from 401(k) plans. Expected consequences include higher compliance costs and reduced prevalence of conflicted rollover recommendations, which could modestly affect broker-dealer and insurance distribution economics but is unlikely to move broad markets.

Analysis

The Labor Department fiduciary rule raised the legal standard for brokers, insurance agents and others advising clients on rolling over assets from 401(k) plans. Expected consequences include higher compliance costs and reduced prevalence of conflicted rollover recommendations, which could modestly affect broker-dealer and insurance distribution economics but is unlikely to move broad markets.