While industry associations have been active in arguing both for and against the Department of Labor's proposed fiduciary rule, one survey set out to gauge stakeholders directly on specific provisions of the proposed rule and their consequence on product and service distribution.
DST kasina, which provides data services to the asset management industry, and has a defined contribution service provider arm, surveyed a pool of about 100 RIAs, service providers, third-party administrators, and asset managers on how they see the rule's primary proposals affecting the retirement industry.
About 65 percent expect the rule's overall impact to be "medium" to "high"—the rest said the rule's impact will be low, if any at all.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
