The U.S. Department of Labor’s fiduciaryrule will increase competition — and challenges.

That’s according to the latest Independent Advisor Outlook Studyfrom Schwab Advisor Services, which found that 36 percent ofadvisors think the rule will be a source of increasing competitionamong registered investment advisors.

And 35 percent think that it will create greater challenges forregistered investment advisor firms to differentiate themselvesfrom larger, or wirehouse, firms .

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