Confusion over the U.S. Department of Labor's fiduciary rule is 'breeding a culture of fear' among some advisors. (Photo: Getty)

The U.S. Department of Labor’s fiduciary rule is creating unprecedented levels of anxiety among financial advisors, suggests new data from Cogent Reports at Livonia, Michigan-based Market Strategies International.

The qualitative study, published as part of Cogent Reports’ “The Advisor of Tomorrow” report, shows that by and large, investment professionals are in agreement with the spirit of the Labor Department’s rule, which will require all advisors to IRAs and 401(k) plans with less than $50 million in assets to provide a fiduciary standard of care to investors.


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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.

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