A new report from Celent says that the conflict-of-interest rule from the Department of Labor could lead to a wider adoption of optimization software to assist in recommendations that would satisfy the fiduciary rule.
And the application of a fiduciary standard beyond the area of retirement could also happen regardless of any action against the rule that may be taken by the Trump administration.
The report, "Wings of a Butterfly: Regulation, Rollovers, and a Wave of Optimization Software," said that, despite opposition by brokers, the interests of the DOL and the advice community, including those brokers who represent themselves as "advisors," "will be ultimately aligned."
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