Recently, a new rule went into effect at the Department of Labor that may have some implications on your business. To the extent that you recommend trading systems, CTAs or make investment recommendations to clients with retirement accounts, you should carefully review this information and possibly consult with an attorney on the implications to your business.
On a high level, the rule generally requires financial professionals of all types, including brokers, financial advisors or wealth managers, who provide investment advice to retirement investors to act as fiduciaries, meaning that they must act in the best interests of their clients. It requires that brokers who recommend investments on retirement accounts provide certain disclosures regarding fees and commissions and recommend retirement products in their client’s best interests.
Please refer to the below links for additional information:
http://www.investopedia.com/updates/dol-fiduciary-rule/
http://www.insidecounsel.com/2016/04/18/what-does-the-department-of-labors-new-fiduciary-r
