 Even registered investment advisors will be potentially impacted by it because there will be a different standard as defined by the Department of Labor that will affect all kinds of retirement accounts, including IRAs."Mark Tibergien , Pershing Advisor Solutions. |
FSI Says Costly DOL Fiduciary Rule Affects RIAs Too
Megan Leonhardt | WealthManagement.com, July 2015
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Summary: Brokers aren’t the only ones who should be concerned about the Department of Labor’s fiduciary proposal, according to a brokerage industry trade group. The Financial Services Institute reiterated Tuesday that imposing a fiduciary mandate on advisors to retirement accounts would be a costly and complex burden for all advisors, regardless of business model.
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