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Will the DOL Fiduciary Standards affect client relations with Allied Financial Partners?

Dear Client,

As you may recall, last year we reached out to you indicating that the Department of Labor had issued an order that would require a fiduciary standard to be applied to all advisors that manage retirement funds.  While the Trump administration has requested a review regarding the impact of implementing this rule, we continue to believe strongly in the fiduciary standard. As a commitment to our clients best interests; our financial services department has always operated under the advisement of a Certified Financial Planner Practitioner™.  In order to become a CFP®, not only is there a rigorous curriculum spanning multiple years of study, but in maintaining his credentials, David A. Younis, CFP® must adhere to the highest ethical standards.  In so doing, the fiduciary standard has always applied when providing financial advice to our clients. 

While we wanted to offer this reminder, we also felt that it is important to let you know how we have been preparing internally for the change in legal perspectives associated with the implementation of this rule on a national basis.

In many cases, our clients will not see material differences in their retirement account structures or investment management.  However, while the fiduciary standard is currently applied within our firm, the rule does require a higher level of compliance oversight, record keeping and data gathering in support of our recommendations.  As such, there will be some new best practices that we are implementing as part of our process.  During the course of 2017 we will be rolling these changes out to our clients.  A few highlights of forthcoming changes include the following:

  1. Pre-meeting questionnaires allowing us to be more aware of your most recent life changes that may affect your investment management decisions.
  2. Financial health and satisfaction surveys allowing us to more specifically tailor our services to your individual needs.
  3. The ability for clients to access their aggregated investments online no matter where the investments may be located.
  4. Meetings utilizing video or teleconferencing in order for our clients to access advice more efficiently.

Additionally, we will be continuing to refine our services in other ways so as to ever evolve toward our goal of providing you with a premier client experience!  Please know that your continued feedback is instrumental in how we develop new solutions and we welcome your input.

We have spent the last year preparing for the formal implementation of the Fiduciary Rule and while we strive to provide affordable and actionable advice for all of our clients we believe that in some cases there will be changes to how we bill for our services.  Please bear in mind, we will never make a change to your accounts without providing ample education and notice informing you of how these changes will affect your investments.  In all cases, we will seek to provide unique and industry leading value to all of our clients.

While the final timing of implementation of this rule is in flux under the direction of the new administration in Washington, we believe that this rule incorporates a level of common sense into our industry that has long been overdue.  We look forward to continuing to support all of your financial needs in every stage of life!

Thank you for your continued confidence and please let us know if we can be of further service.




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Securities offered through Securities America, Inc. member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. This communication is strictly intended for individuals residing in the states of AZ, CO, CT, FL, IL, MD, MI, NC, NH, NJ, NY, PA, VA, or WA. No offers may be made or accepted from any resident outside the specific state(s) referenced. Allied Financial Partners and Securities America are separate companies

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