A study released in early March by two academics goes a long way in settling one of the stickier questions surrounding the fiduciary debate—namely, does a stricter fiduciary standard increase costs to the point of pricing certain registered reps out of the market.

The answer is no, according to Michael Finke and Thomas Langdon.

Finke, of Texas Tech University and University of Missouri at Columbia, and Langdon, of Roger Williams University, "find that the number of registered representatives doing business within a state as a percentage of total households does not vary significantly among states with stricter fiduciary standards."

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