Navigating the DOL Fiduciary Rule

Advisor's Edge

February 23, 2026

Trivia Question❓

What major U.S. financial regulation was originally nicknamed the “Glass-Steagall Act,” even though that was not its official name?

Answer at the bottom of the newsletter

The Department of Labor (DOL) fiduciary rule has been a hot topic in the financial advisory world for years. Designed to protect retirement investors, the rule requires advisors to act in the best interests of their clients when providing retirement advice. Although the details and enforcement timelines have shifted over time, the underlying principle has remained consistent: advice must be based solely on what benefits the client, not what generates higher compensation for the advisor or their firm.

For Registered Investment Advisors (RIAs), the DOL fiduciary rule brings heightened responsibility and stricter compliance expectations. Advisors must carefully evaluate any recommendations involving retirement accounts such as IRAs and 401(k)s to ensure they align with a client’s objectives, risk tolerance, and long-term financial strategy. This goes beyond basic suitability standards and requires a prudent, well-documented process. Advisors should conduct thorough due diligence on products, compare costs, and consider reasonably available alternatives before making recommendations. Transparency is essential. Clients must clearly understand fee structures, compensation arrangements, rollover implications, and any potential conflicts of interest that could influence advice. Detailed recordkeeping is also critical, as advisors may need to demonstrate the rationale behind their guidance in the event of an audit or client inquiry.

While these requirements can feel demanding, they also create an opportunity to elevate your practice. Advisors who embrace fiduciary standards reinforce a culture of accountability and client-first thinking. When clients know their advisor is legally and ethically obligated to prioritize their interests, trust deepens. That trust often leads to stronger retention, expanded relationships, and valuable referrals.

To remain compliant, advisors should regularly review policies, disclosures, investment offerings, and compensation models. Ongoing compliance training, updated procedures, and consistent documentation processes help reduce risk. Many firms benefit from compliance technology that monitors recommendations and streamlines reporting. By taking these proactive steps, advisors not only meet fiduciary expectations but also distinguish their practices as transparent, disciplined, and committed to long-term client success.

Your Advisor's Edge Team

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💡 Answer to Trivia Question:

The Banking Act of 1933.

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