With the negative attention it has already brought to fees, the controversial Department of Labor fiduciary rule proposal is on the minds of every product provider concerned about its impact on active funds.

American Wealth Management brings a unique perspective to the fiduciary debate, as the Reno, Nev.-based firm operates as an RIA and an ETF provider. A key challenge the proposal will pose, say firm President Laif Meidell and investment manager Heidi Foster: are firms going to be active managers or are they going to be financial advisors?

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