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DOL Fiduciary News: September 30, 2016

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Advisers may drop lower- and middle-income clients due to DOL fiduciary rule: NAIFA survey

InvestmentNews; Sep 28, 2016 @ 11:55 am 

The Department of Labor's fiduciary rule may cause over half of the retirement financial advisers to give up on their lower- and middle-income clients, according to a survey ( by the National Association of Insurance and Financial Advisors.

In a survey of 1,167 of NAIFA's approximately 40,000 members, two-thirds said they will lose some or all of their lower- and middle-income clients, while 17% of the advisers are unsure how the rule will affect their ability to serve these clients.

More than 1/4 of financial advisers plan to exit industry or merge firms: [Natixis] survey

InvestmentNews; Sep 29, 2016 @ 12:59 pm

A quarter of financial advisers are planning a dramatic change in the way they operate their business within the next three years, a new survey found (,0.pdf).

About 27% of advisers said they intend to sell their business, merge with another firm, retire or just leave the financial industry altogether during the next three years, according to a survey of 300 advisers by Natixis Global Asset Management.

Regulatory challenges are expected to raise compliance costs over the next several years, and some advisers believe that expense will become increasingly difficult to manage alone. In addition, clients have unrealistic investment expectations and are harder to please, wanting more for less, the survey found.

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