The 60-Day Department of Labor Fiduciary Rule Delay Definitely Doesn’t Mean Dead
To us, the actual text and tone of the Department of Labor’s 60-day delay of the applicability date of the fiduciary rule indicate that the Department still believes that its rule benefits retirement investors and that financial industry firms should be ready for the new June 9 applicability date. While acknowledging that conducting an updated legal and economic analysis will likely take more than 60 days, the Department writes on page 19, “Applying the Rule and the Impartial Conduct Standards a...Goldman Sachs Group is a bank holding company and financial holding company. The company is a global investment banking, securities and investment management firm that provides a range of financial services to corporations, financial institutions, governments and individuals. The company operates in four business segments: Investment Banking, which serves public and private sector clients and provides financial advisory services; Global Markets, which serves its clients who come to the company to buy and sell financial products, raise funding and manage risk; Asset Management, which provides investment services; and Consumer & Wealth Management, which provides a range of wealth advisory and banking services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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