Regulatory pressure is driving advisors to consider theattractions of the registered investment advisor or RIA as a business model.
Even though its fate is uncertain, with delay and repeal loomingin the background, the Department of Labor’s fiduciary rule hasbeen pushing advisors to reevaluate their business models and whichproducts 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 acatalyst for advisors, broker/dealers … and asset managers toreexamine their business models, simplify their cost structures,and minimize risk exposure,” it’s also caused “industrystakeholders” to operate “with a heightened sense of regulatoryrisk” and as a result be more likely to be aware of cost andliability.
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