Registered investment advisors overwhelmingly support a strong,universal fiduciary rule, while commission-based securities brokersdon’t think it would do much to improve investor confidence,according to a fi360 survey.
This year’s results, extracted from polling done last summer,found that 71 percent of participants said they believed afiduciary rule “no less stringent” than what is currently requiredof RIAs would help restore confidence in the financial industry, upfrom 59 percent who reported believing as much the previousyear.
And 91 percent want the higher standard of care applied torollovers from 401(k) accounts, while 82 percent said fiduciarystandards applied to advisors to 401(k) plans should also beapplied to marketers of IRAs.
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