Moneta Group Weighs in on Department of Labor’s Fiduciary Rule

ST. LOUIS—April 14, 2016—Moneta Group, one of the Midwest’s largest independent providers of service and advice to qualified retirement plans, has weighed in on the Department of Labor’s new conflicts of interest rules.

Last week, the Department of Labor (DOL) announced regulations that address the standards of conduct by which individuals must adhere to when providing certain kinds of investment related advice to retirement and pension plans, and their participants.

In general, the DOLs regulations broaden the definition of “Fiduciary” to include additional market participants, and provide additional exceptions to what would otherwise be considered conflicts of interest laden “prohibited transactions.”

“Among other things, the new regulations make clear that certain kinds of advice provided to plans and participants will trigger fiduciary obligations,” said Nathan Howard, J.D., Chief Compliance Officer at Moneta Group. “In addition, these regulations provide clarity to plans and their advisors on the delineations between what is to be considered ‘fiduciary advice’ versus merely ‘education’.”

There is a distinct possibility that these new rules will cause substantial changes in how the retirement and pension advisory industry as a whole serves its clients.

“We believe that we are in the minority,” said Tom O’Meara, Managing Partner at Moneta Group. “The ruling will have very little effect on Moneta Group, because we have been serving as fiduciaries for decades and serving our client’s best interest.”

In total, Moneta Group advises on over 330 qualified retirement plans. The firm advises or manages over $3.5 billion in retirement plans and over $14.5 billion across client segments. To learn more about the DOL ruling or Moneta Group, visit or call 1-314-726-2300.


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