Advisors might want to have another look at their business structure and practices. Plan sponsors certainly are—and in record numbers.
In fact, according to a recent Fidelity Investments survey, 38 percent of 401(k) and 403(b) plan sponsors are actively looking for new plan advisors.
And according to an Alliant 401(k) blog post, it's not just the approach of the Department of Labor's fiduciary rule that's making them reconsider the status quo—although advisors who can't satisfy sponsor clients on that score are making sponsors think twice about sticking with them.
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