While industry associations have been active in arguing both for and against the Department of Labor's proposed fiduciary rule, one survey set out to gauge stakeholders directly on specific provisions of the proposed rule and their consequence on product and service distribution.
DST kasina, which provides data services to the asset management industry, and has a defined contribution service provider arm, surveyed a pool of about 100 RIAs, service providers, third-party administrators, and asset managers on how they see the rule's primary proposals affecting the retirement industry.
About 65 percent expect the rule's overall impact to be "medium" to "high"—the rest said the rule's impact will be low, if any at all.
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