Fiduciary Rule

Once the fiduciary rule was explained to customers, many became concerned about previous financial advice, with 29% considering switching to a new institution.

The investment services unit of one regional bank is working with 10 of its top producers to whittle their books of business.

Bank and bank advisers need to improve at the tangibles (financial plans) and intangibles (corporate culture) in the future.

The firm is one of the first to issue a formal comment letter on the Department of Labor's proposal to put off the regulation's implementation date.

The firm has already standardized its variable annuities and alternative investments and is working toward doing the same for mutual funds as well as indexed and fixed annuities.

Hope is dimming, but top Democrats like Sen. Elizabeth Warren and investor advocates are unlikely to relent in their efforts to preserve the regulation.

"To me, that rule, it was about one thing and it was about enabling trial lawyers to increase profits,” acting Chairman Michael Piwowar says.

Take a look at some of the best comments from your industry peers on the fiduciary rule.

After investing millions in new platforms and preparing thousands of advisers, executives say they've come too far to reverse course.