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.
While some firms figure out how they will be interpreting and enforcing the new standards, advisors can use this time to assess their business model, goals and relationship with their firm.
