Lately there’s been much hand wringing over the Department of Labor’s new fiduciary rule, which went into effect this month. Enacted by President Obama and initially challenged by the Trump administration, the new rule asks brokers to avoid conflicts of interest when giving retirement advice. The rule is non-compromising regarding the legal and ethical role wealth managers must fill in looking out for the best interests of their clients. As wealth managers ready themselves to adopt and adjust, this is where quality management software comes into play as a timely and powerful ally.

But what exactly is QMS? What does it do? And how will it help wealth managers rise to the compliance challenges posed by the new rule? Answering the Qs of QMS…