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A new report by a consulting firm paints a dire picture of the potential impact of a proposed rule establishing a fiduciary standard for investment advisors selling products to IRA holders.

The study by management consulting firm Oliver Wyman – “Assessment of the impact of the Department of Labor’s proposed “fiduciary” definition rule on IRA consumers” – says that if the rule proposed by the Department of Labor’s Employee Benefits Security Administration is imposed, small investors interested in opening an IRA would have less access to investment professionals for guidance and support, making it less likely that they would open an IRA.

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