Most asset managers say they are still studying the the impact of the Labor Department’s fiduciary rule on asset managers, even though it was unveiled in April. Such is the impact of regulation on the state of asset management this year.

All product providers have been forced to assess the fiduciary standard and examine how it impacts their product offerings, as financial advisers revamp their practices and emphasize products that conform to  the standard. “I have done more compliance in the past two years than I could have imagined,” says Lisa Shea, senior product manager at Northern Trust.

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