The Department of Labor (DOL) has proposed new fiduciary rules to govern when investment advice is given on retirement assets. The ruling includes IRA rollovers, small Defined Contribution plans, HSAs, qualified annuities, and other retirement products. The final rules will be in effect starting April 2017.
To meet the needs of the DOL fiduciary rule, and to capitalize on the revenue opportunities available, North Highland has created a holistic and structured approach to quickly implement the changes. We focus on the advisor and client experience to differentiate our clients from firms who focus only on compliance.
President Trump Executive Actions on February 3, 2017 for the Financial Industry
On February 3, 2017 President Trump signed an Executive Order regarding the Core Principles his administration will use to oversee financial regulations. He also issued a Memorandum to the Department of Labor (DOL) ordering a review of the impacts of the DOL Fiduciary Rule.
Advicent partners with North Highland to offer clients DOL compliance resources
With the Department of Labor (DOL) fiduciary ruling set to take effect in April 2017, Advicent, a leading financial technology provider based in Milwaukee, WI, has announced a strategic partnership with North Highland, a global management consulting firm headquartered in Atlanta, GA. With a specialty in serving the financial services industry, North Highland and Advicent are uniquely equipped to assist financial services firms with this industry transition.
The DOL Experience Made Easy: Focusing on Advisor and Client Experience
As with any regulation, the new DOL Fiduciary Rule creates challenges that need to be addressed. In the back end, there are risk and compliance controls, but the real challenge comes from the experience side. Advisors are typically confused on how to change – what happens to their practice management systems and how they communicate changes to clients. And clients, depending on how their firm handles advisor education and training, may see a diminished customer experience and confusion about products and their investments. North Highland’s Jill Jacques talks about how firms can take a holistic approach to the DOL rules.
North Highland's Fiduciary Foundation Webinar Series
As we begin to close out 2016 and look ahead to the coming year, now is the time to think about the critical actions you need to take in order to be ready in 2017. Join us to discuss what firms should do now, including the role firm leaders play and what to do if your firm has not started to prepare.
The DOL Made Easy: How to Best Approach the Fiduciary Rule
On April 6, 2016, the Department of Labor released its final fiduciary rule and related exemptions that will require advisors overseeing retirement accounts to act in the best interest of their clients. This is the biggest change in the wealth management industry since the 1970s. North Highland Global Wealth Management lead Jill Jacques explains more about what this ruling means and how to best prep for this transformation.Video
North Highland and American Banker Present: Opportunities in a New Fiduciary World
In this webinar, learn from North Highland DOL and CX experts on how to use an experience-based approach to address the fiduciary ruling, beyond the check-the-box compliance procedures. We discuss the value in breaking down the impact of the rule to its basic parts, building the program from the ground up, managing the process, and most importantly, assessing the effectiveness.Video
Blog: DOL Fiduciary Rules and the Implications to Practice Management
With the new DOL Fiduciary requirements (“Fiduciary Rule”) being digested, the Financial Services industry is collectively working to comply with pivotal aspects of the rule. Teams of internal and external resources are working to get out ahead of a regulation that will surely change industry dynamics as much as the Affordable Care Act changed Healthcare.
Jill JacquesGlobal Financial Services Lead Executive Team
Frank KimballExpert Practitioner
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