Fiduciary Rule

After the DoL’s fiduciary rule, this is just a cost of doing business for those offering retirement advice.

After DoL’s fiduciary rule, this is just a cost of doing business for those offering retirement advice.

The firm is among the first to detail how its 14,000 advisers will comply with the new regulation.

The chief executive of Foothill Securities said he was motivated to look for a buyer for some assets because of rising compliance costs.

The advice environment for participant rollover choices is muddled as plan providers struggle to gear up for the DOL’s rule.

"I think the DoL rule has a disproportionate impact on the independent business, and that affected our decision-making," says Ron Kruszewski.

"The trend is moving toward fee-based planning and removing commissions from the equation," says Artisan Advisor's Tim Smith.

Compliance with the fiduciary rule is both essential and complicated.