Advisor Jack Abriola spent more than 15 "great" years with Royal Alliance before deciding this year that it was time to sell to aggregator United Capital, in part because of a possible game-changing Labor Department rule.
The prospect of the Labor Department passing a uniform fiduciary rule is "a huge part of my decision," Abriola says, "because if I put a (broker-dealer) between me and my client, I know the cost would be more. United Capital doesn't do that. I am essentially going straight to the source, so it's way different than a B-D in my way of thinking."
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