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RIAs To Feel The ‘Higher Burden’ Of Fiduciary

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The Department of Labor’s “Conflict of Interest” rule holding advisors to a fiduciary standard of care has raised the bar on every registered investment advisor (RIA) managing retirement accounts, RIA owners and financial experts say.

Even fee-only advisors that have followed a fiduciary standard for years and who may feel like they are better positioned for the changes will find it more difficult to do business, experts say.