Summary: Advisers snapped to attention when Secretary of Labor Alexander Acosta said in a surprise commentary in The Wall Street Journal that the Department of Labor would not further delay the first stage of the fiduciary rule's implementation. The Labor Department did back off some of the compliance requirements for the rest of this year, however, and said it plans to collect more information. What does this mean for advisers and other wealth management specialists? Scroll through to see 10 things you need to know right now about the fiduciary rule.
 An adviser's current client base represents its future potential earnings — and that has a tremendous impact on its value. Deepening relationships with existing clients increases retention and the lifetime value of that client. In addition, finding ways to broaden the age range of your client demographic can have big returns.”Jeremy Holly, senior vice president of strategic business solutions, LPL Financial. |
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