whether to pursue employer-sponsored retirement plan business or engage in traditional wealth management? (Photo: Getty)

If the April 2017 applicability date for the DOL fiduciary rule is unchanged by the incoming Trump administration, advisors will have to make a choice: whether to pursue employer-sponsored retirement plan business or engage in traditional wealth management.

That’s according to the fourth-quarter issue of The Cerulli Edge—Retirement Edition, in which the consulting firm says that all advisors serving the retirement market, whether they provide investment advice to small retirement plans (less than $50 million in assets), plan participants and/or health savings accounts, will become ERISA fiduciaries.

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