In the News

Title

One unintended consequence of DOL fiduciary rule

Document Type

Article

Publication Date

5-2-2016

Abstract

While the Labor Department's newly released fiduciary rule has inspired much discussion among industry stakeholders speculating how the regulation will adversely affect the advice business, there's a potential silver lining: a younger industry.

Providing financial advice is predominantly the business of older advisers — among regional brokerages and wirehouses, for example, many top producers are 50 years old or more.