The U.S. Labor Department (DOL) issued guidance Tuesday on its fiduciary investment advice for employee benefit plans, retirement investors, and investment advice providers.
The guidance from the DOL's Employee Benefits Security Administration (EBSA) relates to the department's "Improving Investment Advice for Workers & Retirees" exemption and follows a February 12 announcement that the Trump-era exemption would go into effect as scheduled on February 16.
Ali Khawar, acting assistant secretary of Labor for EBSA, said Tuesday in a statement that the two-pronged guidance "provides helpful information regarding the importance of selecting an investment advice provider who is a fiduciary and the protections that are provided to retirement investors under the 'Improving Investment Advice for Workers & Retirees' exemption."
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
