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IBDs overwhelmingly say Trump should revoke fiduciary rule: survey

November 29, 2016

IBDs overwhelmingly say Trump should revoke fiduciary rule: survey

Nearly 90% of respondents to a Financial Services Institute survey indicate their support for repeal

Nov 29, 2016 @ 1:09 pm | By Greg Iacurci | Investment News

Registered representatives of independent broker-dealers overwhelmingly believe president-elect Donald Trump should revoke the Labor Department’s fiduciary rule, according to a survey conducted by the Financial Services Institute Inc., a trade group representing IBDs.

Eighty-six percent of survey respondents said Mr. Trump should revoke the regulation, which raises investment advice standards in retirement accounts such as 401(k)s and IRAs.

FSI polled 1,357 independent financial advisers the week after the U.S. presidential election of Nov. 8. Seventy-one percent of respondents voted for Mr. Trump, the Republican candidate, while 19% voted for Democratic candidate Hillary Clinton and 10% either voted for a different candidate or didn’t respond to the question.

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More articles about the DOL Fiduciary Rule on Blue Vault’s website:

Trump administration could stymie DOL fiduciary rule by dropping legal defense

New fintech tools for DOL fiduciary rule launched despite questions of a Trump delay

NAFA appeals court victory for DOL fiduciary rule

W.P. Carey’s Goldberg straightens out adviser misconceptions about DOL fiduciary rule

Ameriprise will stick with IRA commissions under DOL fiduciary rule

DOL fiduciary rule’s unintended consequence: higher fees for investors

The ABCs of the DOL fiduciary rule

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