FOR IMMEDIATE RELEASE
Pacific Life Offers Advisors Resources to Navigate the DOL Fiduciary Rule
Company Will Release a New Series of Educational Tools and Resources
Newport Beach, Calif. (4/3/17)–To help financial advisors succeed amid changes brought about by the new Department of Labor (DOL) Fiduciary Rule, Pacific Life Insurance Company is releasing a series of educational resources and tools called Thrive with Pacific Life. The first topic in the series, IRA Rollovers, is now available.
Unless a formal announcement is made by the DOL to delay the rule, the Best Interests Standard of the Fiduciary Rule is set to take effect April 10, 2017. Generally, recommendations regarding retirement accounts will now be held to a fiduciary standard. This makes it crucial for advisors to reassess the level of education they provide to clients, the comparative evaluations they perform for clients regarding investment options, and the documentation they maintain to support that the recommendations are in clients’ best interests.
“In our view, the Fiduciary Rule hasn’t changed the opportunities in the market. What it has changed is the way advisors approach those opportunities. At Pacific Life, we already offer an extensive array of resources including our Retirement Strategies Group, Advanced Marketing Group, and consultative wholesalers who can help advisors grow their businesses, deepen their knowledge of financial solutions, and interact effectively with clients. The Thrive with Pacific Life series is our latest addition to those resources, focused specifically on facts and best practices to help advisors meet the intent of the new rule,” says Christine Tucker, vice president of marketing for Pacific Life’s Retirement Solutions Division.
Approximately 74% of financial professionals polled in a survey by Pacific Life say they feel the DOL Fiduciary Rule will have a significant impact on their practices with regard to IRA rollovers. Regardless of the outcome of the Rule, Pacific Life has provided a new educational series of resources for advisors, including a helpful IRA Rollovers resource guide, which contains information and best-practice ideas to successfully navigate the changes to consider when having rollover discussions. The guide also contains an IRA Rollover Checklist that can help advisors walk clients through the kind of comprehensive evaluation and documentation needed when evaluating their options.
Pacific Life will continue to release more of the Thrive with Pacific Life series throughout 2017. To receive a complimentary copy of the IRA Rollovers resource guide, advisors are invited to call a Pacific Life consultative wholesaler at (800) 722-2333. More information is also available at Thrive.PacificLife.com.
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit Pacific Life online at www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2016 is compiled by Pacific Life using the 2016 FORTUNE 500® list.
Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees are backed by the financial strength and claims-paying ability of the issuing company and do not protect the value of the variable investment options.
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