fiduciary-standards

What problem does it solve?

This Skill clarifies and applies complex fiduciary duty standards across various financial advisory contexts, helping users understand their obligations and distinguish them from other regulatory requirements.

Core Features & Use Cases

• Fiduciary Standard Identification: Determine if a fiduciary duty applies to a specific situation (e.g., investment advice, retirement plans).
• Comparative Analysis: Differentiate fiduciary duty from Reg BI and suitability standards.
• ERISA & DOL Rules: Understand fiduciary obligations under ERISA and recent DOL guidance, including PTE 2020-02.
• Use Case: A financial advisor needs to explain to a client the difference between the fiduciary standard they adhere to and the suitability standard a broker might follow, especially concerning a rollover recommendation.

Quick Start

Explain the core differences between the IA fiduciary duty and Reg BI.