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Where advisor firms will have to spend money after DOL rule

Financial advisory firms may find their money needs to be spent in these areas after the release of the DOL fiduciary rule.

By Nick Thornton | Updated on April 05, 2016
Photo: Getty

A new paper exploring where financial advisory firms will have to spend money after tomorrow’s release of the Department of Labor’s fiduciary rule says ERISA-qualified accounts represent about 50 percent of a typical wealth management firm’s asset base.

That translates to a considerable amount of potentially impacted revenue for advisor firms, according to research of broker-dealers and RIAs from Beacon Strategies, a Denver-based consultancy to the financial services industry.

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Nick Thornton

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.

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