The more comprehensive the view of client finances, the more prudent the advice.
Brokerage firms, the group most affected by a rule delay, would likely put off big projects around adviser compensation and trimming investment products.
The Financial Services Institute has urged the DOL to delay full implementation of the rule until April 10, 2019. But a delay alone will not be enough, according to the trade group.
Battle intensifies as DOL seeks to push off implementation until July 2019.
Ron Kruszewski doesn't think the DOL rule will be implemented on schedule — and may never take effect.
A central argument against the DOL fiduciary rule is that investors with smaller accounts will be abandoned. But many advisers stand ready to serve them.
Broker-dealers report paying hefty start-up costs and additional ongoing expenses, and are cutting the number of mutual funds they offer.
Indexed annuity distribution would have been upended in January, but a delay preserves the status quo.
Length of time for measure's review gives SEC, other regulators greater chance to get involved in setting advice standards.
UPDATE: U.S. jobless claims fall to six-month low of 232,000