The Industry is Fighting the NJ Fiduciary Rule

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The Industry is Fighting the NJ Fiduciary Rule

(New York)

The DOL's fiduciary rule may be gone for now, but it is a long way from dead. The rule will be taking a new form in 2019, and even now, its spirit lives on in the form of a number of state-based fiduciary rules. One such is in New Jersey. However, Wall Street is putting up a massive fight to block the rule. Financial Advisor Magazine puts it this way, calling it a Battle Royale and saying it is "pitting the nation's largest Wall Street and broker-dealer associations against comparatively tiny fiduciary advisor and financial planning associations".

FINSUM : We think if NJ passed a comprehensive fiduciary rule, it would probably give momentum to not only the DOL, but a number of other states which are working towards this or are on the fence about it.

  • advisors
  • wealth management
  • DoL
  • fiduciary rule
  • new jersey

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Wealth Management

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