Two financial services trade groups have released studiesdetailing how the Labor Department’s fiduciary rule has impactedbrokerage and advisory services so far.
A study commissioned by the Securities Industry and FinancialMarkets Association focuses on the experience at 21 member firms,and another commissioned by the Financial Services Roundtablesurveys the experiences of 600 individual brokers, RIAs, andinsurance agents.
Both SIFMA and FSR are a part of a lawsuit challenging the legality of the fiduciaryrule. That case was recently argued before the 5thCircuit Court of Appeals after a lower court in Texas upheld therule earlier this year.
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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.
