Regulatory pressure is driving advisors to consider the attractions of the registered investment advisor or RIA as a business model.
Even though its fate is uncertain, with delay and repeal looming in the background, the Department of Labor’s fiduciary rule has been pushing advisors to reevaluate their business models and which products they might focus on in the future.
According to the “Cerulli Edge—U.S. Monthly Product Trends Edition, February 2017” report, not only has the rule “acted as a catalyst for advisors, broker/dealers … and asset managers to reexamine their business models, simplify their cost structures, and minimize risk exposure,” it’s also caused “industry stakeholders” to operate “with a heightened sense of regulatory risk” and as a result be more likely to be aware of cost and liability.
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