DOL rule will force consolidation of broker-dealers, Cerulli report says
December 21, 2016 by Warren S. Hersch
The Department of Labor’s new conflict-of-interest rule will have a huge effect on advisors and asset managers. And among those to be most severely hit are boutique broker-dealers.
So concludes Cerulli Associates, a Boston-based research and consulting company, in a new report, “U.S. Broker/Dealer Marketplace 2016: Retooling for a New Competitive Landscape.
Examining broker-dealers with financial advisors serving retail investors, the study offers a 10-year forecast of broker-dealers channels, including their market sizing, strategic directions, challenges, and opportunities.
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