PHOENIX-- Like it or not, the financial services industry will be spending a lot of time and money this year dealing with the new rules and fallout from the Dodd-Frank Wall Street Reform Act -- while simultaneously looking down the road to see what's next: A lot of studies.

For now, the immediate concern is sorting out exactly how the SEC and Congress plan to implement a uniform fiduciary standard for broker-dealers and financial advisors, a process that likely won't come to any definitive conclusion until sometime this fall or perhaps early 2012.

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