The full impact of the new Department of Labor (DOL) ruling is hard to determine. But for investors, the positive impact is beginning now. Over the last year the financial industry has been befuddled by the proposed, and now final, ruling.
The goal of the DOL is to simplify the investment process for investors, giving them resources to easily determine costs associated with their investments and the cost of services provided by their financial professional. While the notion to help investors is without question a good one, changes will take months to implement and will not be in full effect until May 2017.
The good news – our investors are benefiting from the changes now. In an effort to level the playing field for all investors, investment companies are working to reduce the costs to use their investments. Low cost shares have been available to institutional investors for years. These low cost shares will now be available in the Smedley Financial managed portfolios.
We are excited about this change as the lower costs are directly reflected in your investment return.
Over the next several months we will be in contact with our investors to explain changes to the investment program and how they will benefit from the new investment platform. Watch for information in your monthly statement regarding the changes in your portfolio(s).
We welcome your questions and feedback and invite you to contact us at 800-748-4788.