While investors feel that some cautionary fences have gone up around the industry and some are more confident about working with financial advisors, the Dodd-Frank Act has not delivered substantial changes to the financial advisory industry since President Obama signed it into law almost a year ago.
It is a healthy start, but not much more. Aside from putting guard rails up around an industry that had spun wildly out of control, the Dodd-Frank Wall Street Reform and Consumer Protection Act has not delivered substantial changes to the financial advisory industry since President Obama signed it into law July 21, 2010.
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