Charles Schwab is warning Congress that the next wave of the Department of Labor fiduciary rule's provisions, set to take effect in January, could be devastating to its RIA clients.

The firm’s adviser services division is calling attention to contractual provisions that it says could impose an excessive compliance burden on small advisers and expose them to potentially crippling legal liabilities, in hopes of influencing the DoL to redraft some of the regulation’s most controversial features.

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