Why the Fiduciary Rule Won’t Die
The fiduciary rule might be on its last legs. A measure to destroy it has been included in the soon-to-be-voted-on CHOICE Act in the House, and the DOL is conducting an economic review that stacks the odds against the rule's implementation. However, despite these poor chances, the rule won't die, according to this piece. The reason why is that the big battle over the rule, which has been very public and well-covered by media, has raised awareness to the point that many investors are now understanding the concept of "fiduciary" and requesting to only work with advisors who hold the designation.
FINSUM : There seems to be a lot of truth to this piece. The fight over the rule has changed the game. However, many of the advisors we speak to don't mind being a fiduciary, it was the form of the DOL's rule that was the issue.
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