By Mindy Diamond, WealthManagement.com – While advisors may have dodged a bullet with a Department of Labor fiduciary rule that was less onerous than expected, it is not a non-event. Since its release in early April, senior leaders at major brokerage firms have been knee-deep in the 1,000-plus page rule, trying to interpret and come up with new policies and procedures to protect and corral their advisors.
Mindy Diamond Quoted – By Megan Leonhardt, WealthManagement.com – What value will independent broker/dealers be able to offer their advisors in a post-Department of Labor fiduciary world? Independent broker/dealers have been facing increasing pressure with fee compression on the rise and advisors increasingly expecting more and better services. But the difficulty in retaining advisors is only going to increase with the implementation of the Department of Labor’s fiduciary rule.
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