The Department of Labor’s new fiduciary proposal potentially stands to complicate a retirement planning industry already marked by consumer confusion, according to survey of advisors and their clients by the Deloitte Center for Financial Services, a research arm of the global consultancy.
As is, 64 percent of the financial advisers surveyed said poor communications from product providers present a barrier to adequate retirement preparation.
Inefficiencies in communication also explain core trust issues between the financial services industry and consumers.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
