A survey of retirement advisors representing all advice distribution channels reveals about half expect the Department of Labor’s finalized fiduciary rule will help their businesses, according to Pioneer Investments, a provider of mutual funds and annuity products.
That’s a marked improvement in sentiment for the rule from last year, when Pioneer found that only 27 percent of advisors expected to benefit from the rule.
Those advisors now bullish on the rule said the regulation will help level the playing field on advice by eliminating competition from those not willing to accept the fiduciary requirements insisted on in the final rule.
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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.
