In its simplest terms, the Department of Labor’s fiduciary ruleis really all about “the Mom Test,” says Rob Foregger.
The co-founder of NextCapital, a Chicago-based software providerof open-architecture, managed account platforms for 401(k)plans and individual wealth management advisors, acknowledges thecomplexity of DOL’s rule, and the fact that it will fundamentallychange how the institutional and retail advisory industries operategoing forward.
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