Just 42 percent of advisors say they are aware of their firms’ timeline for implementation or what training or support the firm will provide, while only a third (33 percent) are aware of their firm’s new compliance procedures.
That’s according to a Nationwide Retirement Institute survey that found that most advisors — 87 percent, in fact — are considering changes to their business model as they wait to learn what their firms will require in terms of compliance with the U.S. Department of Labor’s new fiduciary rule.
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