Fiduciary standard

The aggregator has clicked with an expansion-minded RIA seeking to grow its footprint and 401(k) business.

"Just the talk about the rule has been free advertising for planners committed to prioritizing their client's needs over juicing their own compensation," says one leading fiduciary planner.

"My expectation is that a lot of firms are going to continue installing a best-interest standard, regardless," said Brian Graff, CEO of the American Retirement Association.

Even as President Trump seeks a rollback of financial regulations, there’s little chance the rule will be paused — and an even slimmer chance it will be derailed, says TD Ameritrade Institutional’s Skip Schweiss.

Morgan Stanley and Advisor Group are moving ahead with changes despite the possibility that the Department of Labor's regulation could be reversed.

By putting clients’ interests first and documenting conscientiously, advisors will comply with the rule, while also building trust.

Executives also estimate how much of their advisory force will quit in the wake of the DoL rule.

There's a better way to craft a standard that would protect investors and preserve client choice.

The brokerage industry’s watchdog would also want to play an active role in the design of a possible SEC fiduciary regulation, Robert Cook says.

"There is an added sense of urgency now," says Barbara Roper, director of investor protection at the Consumer Federation of America.