New DoL Fiduciary Rule Creates Opportunities for Fund Industry
13. April 2016
The requirement that brokers and advisers put clients' interests first could benefit technology providers and technology-focused firms.
Last Wednesday the U.S. Department of Labor made a change to how brokers and financial advisers must treat retirement accounts by forcing them to live up to a so-called fiduciary standard. The industry has one year to comply with the rule, which may turn out to be an advantage for firms that have already been using technology to make client onboarding more efficient. For firms that don't, it might be time to consider model portfolios or other solutions that create off-the-shelf portfolios for new customers.
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