In what could be a sign of the fiduciary rule's staying power despite Donald Trump's election as president, JPMorgan Chase says it plans to cut commissions for advisers on clients’ retirement accounts when phase-in of the rule is set to begin in April.

"We believe the intention of the new rule is sound: always do what's in the best interest of the client," bank spokesman Mike Fusco says. "We understand implicitly what that means, as we've been a fiduciary for the last 175 years."

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