Regardless of the eventual fate of the Department of Labor’s fiduciary rule, studies indicate that a fiduciary standard is consistently rated among the top three most important factors that draw an investor to work with an advisor.
For the third year in a row, Jefferson National’s “Advisor Authority” study has borne that out, and this year it also shows that nearly half (48 percent) of investors say they would stop working with their financial advisor if they learned the advisor is not legally required to serve clients’ best interest.
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