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Opponents of the Department of Labor’s fiduciary rule have spoken out loud and long against its potential effects on smaller IRA accounts—but new Cerulli research may counter their arguments.

According to critics of the rule, smaller investors will lose out on personalized advice and individually tailored portfolios, since advisors unable to collect commissions for their advice will shed those smaller accounts. So those small account holders will be cast adrift, unable to access financial advice at a reasonable cost.

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