DOL fiduciary rule will cost industry, Morningstar says
Morningstars report on potential effects of the proposed DOL fiduciary rule suggests that previous government and industry cost analyses of the rule's impact to the industry are low.
By Nick Thornton |
Updated on January 04, 2016
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The Department of Labor’s proposed fiduciary rulewill affect about $3 trillion of retirement assets and $19 billion of revenue in the financial services industry, according to analysis from Morningstar.
Morningstar’s report suggests that previous government and industrycost analyses of the rule are low.
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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.
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