In the News

Title

SIFMA Sends DOL Study About Fiduciary Rule Effects

Document Type

Article

Publication Date

8-10-2017

Abstract

More than half (53%) of financial institutions reported limiting or eliminating access to advice in retirement brokerage accounts, impacting an estimated 10.2 million accounts and $900 billion in assets under management (AUM), according to a study of a cross-section of SIFMA members, commissioned by SIFMA and performed by Deloitte & Touche.

The 21 financial institutions that participated in the study represent 43% of U.S. financial advisers and 27% of the retirement savings assets in the market.