Why Your Advisor’s License Matters Now More Than Ever
The legal definition of who must act in your best interest has shifted again. According to a recent report by InsuranceNewsNet, authored by John Hilton, the Department of Labor (DOL) has joined industry groups in a motion to vacate the 2024 Retirement Security Rule (RSR).
“With both sides now on the same side, the motion to vacate likely means the end of the Biden-era RSR,” the report states. This marks the latest chapter in a decade-long battle over the fiduciary standard. While the DOL is expected to release a revised rule in May 2026, the current reality is that a universal federal “fiduciary” requirement for all insurance and brokerage advice remains on hold.
Don’t Wait for a Law to Protect You
Because government regulations are in constant flux, the most reliable way to ensure you are receiving unbiased advice is to understand the licenses your advisor holds. You shouldn’t have to wait for a “rule” to be passed to get advice that puts you first.
Key Fiduciary Licenses to Look For:
- Series 65: Specifically designed for investment advisers and planners. This license is for those providing advice for a fee rather than a sales commission.
- Series 66: A combined license that allows a professional to act as both a broker-dealer and a registered investment adviser (RIA).
The Key Difference: Fiduciary vs. Suitability Unlike the Series 7 or 63—which often operate under a “suitability” standard (meaning a product is “good enough”)—the Series 65 and 66 require the professional to put the client’s interests first at all times.
At Southwest Michigan Financial, we believe the fiduciary standard shouldn’t be a temporary government mandate—it should be the baseline for every conversation.
The Fiduciary Standard: Why Chuck Is the Fiduciary Advocate
In a world where government rules on financial advice change with the seasons, you deserve an advisor whose commitment to you is permanent. While the Department of Labor and Washington regulators debate what a “fiduciary” should be, Chuck Henrich has already built Southwest Michigan Financial on that very foundation.
Chuck is a Fiduciary by Design, Not Just by Decree:
- The Right Credentials: Chuck holds the Series 65 license. Unlike advisors who only hold “suitability” licenses, Chuck is legally and ethically bound to put your interests first.
- A “Common Man” Perspective: As he often says, he doesn’t measure success by Wall Street indexes, but by your kitchen table reality. Whether it’s navigating the new OBBBA tax laws or protecting your legacy from court interference, his advice is driven by your goals—not a sales commission.
- Stability in Uncertainty: While Biden-era rules may be vacated and new 2026 mandates loom, Chuck’s standard of care remains the same. He provides the clarity and transparency you need to bridge the “Confidence Gap” and stay on track for a 30-year retirement.
“You shouldn’t need the law to tell your advisor to do the right thing. At our firm, the fiduciary standard isn’t a headline—it’s how we’ve done business from day one.”
— Chuck Henrich
Need more information? Call Chuck Henrich, Registered Investment Advisor and Fiduciary, at (269) 323-7964 for a personal consultation or Contact Us to learn more.
Source: Summarized from InsuranceNewsNet.com Inc., “Fiduciary Rule funeral: DOL joins industry in move to vacate Biden-era rule” (2026).
This blog is created and authored by Chuck Henrich (Content Creator) and is published and provided for informational and entertainment purposes only. The information in the Blog constitutes the Content Creators own opinions and it should not be regarded as a description of services provided by Southwest Michigan Financial, LLC. The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. It is only intended to provide education about the financial industry. The views reflected in the commentary are subject to change at any time without notice.
Nothing on this Blog constitutes investment advice, performance data or any recommendation that any security, portfolio of securities, investment product, transaction or investment strategy is suitable for any specific person. The Content Creator and Southwest Michigan Financial, LLC assumes no responsibility or liability for any consequences resulting directly or indirectly for any action or inaction you take based on or made in reliance of the information, services or materials provided within this blog.
