Another day, another lawsuit — or that's how it seems since the Department of Labor adopted its new fiduciary requirements for retirement plan advisers and providers.

Let's see. In the financial sector alone, we've seen suits against Fidelity, American Century, Franklin Templeton, Allianz, New York Life, Cetera and others, in their role as plan sponsors or, in some cases, plan advisers. It's a great time to be a class-action attorney.

How are you going to stay ahead of emerging legal requirements? Not only do you have to make sure that your business conforms to the new Department of Labor regulations for retirement accounts — which take effect in April 2017 — you also have to communicate to your clients that you are expertly and compliantly managing their 401(k) and other retirement plan participants' hard-earned money.