fi360 Launches DOL Fiduciary Training Program

Fi360 says it will be adding at least one new module in 2017.

The program’s goal is to also teach advisors how to make investment decisions that are in the best interest of clients.

John Faustino, chief product and strategy officer at fi360, said fi360 began developing the program’s content “well before” DOL’s fiduciary rule passed in April, noting fi360’s history since 1999 in developing such programs for advisors. “Our long-standing focus on fiduciary training and anticipation of this day helped us bring a well-vetted solution to market at a critical time of client need.”

The DOL fiduciary rule, however, “has created unprecedented demand for our services,” he added, with firms already having signed contracts and started the program.

fi360 said it prices the program based on such factors as number of trainees (advisor and home office/support), the modules consumed and learning management system of delivery (some clients are using their own; others are using the company’s).

The American Retirement Association also announced recently it has partnered with Morningstar to develop a fiduciary education and best practices program for advisors called The IRA Fiduciary Adviser education.

ARA said it has picked fiduciary experts Don Trone, CEO of 3ethos, and Peter Swisher, senior vice president, National Sales at Pentegra Retirement Services to help develop its fiduciary education and best practices program for advisors, which will be available in the fourth quarter.

— Related on ThinkAdvisor:

• What Advisors May Not Know About the DOL Fiduciary Rule
• What Advisors Really Think of DOL Fiduciary Rule: ThinkAdvisor Poll
• A DOL Fiduciary Rule Compliance Checklist