DOL Rule Forced Changes On Advisors, Survey Finds
November 6, 2018 by John Hilton
The reviled Department of Labor fiduciary rule is gone, but a majority of advisors ended up making major changes anyway, a new survey finds.
Fifty-four percent of advisors say they will “very likely” increase compliance infrastructure as a direct result of the DOL rule. The data comes from “Harnessing Growth: The LIMRA-EY Experienced Financial Advisor Study,” based on an online survey of nearly 1,500 advisers.
Another 32 percent of respondents said they are “somewhat likely” to increase compliance infrastructure.
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