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Pay cuts ahead for some advisers

Jul 24, 2017 - InvestmentNews

The Department of Labor's fiduciary rule has morphed into a pay cut for some advisers, who are left wondering whether a reduction in their compensation is being used to bolster the bottom lines of the broker-dealers for which they work.

Sure, it would be rather cynical to say that firms are taking advantage of the new fiduciary rule, meant to eliminate potential conflicts brokers face when recommending one product to clients rather than another. The rule is meant to do good for investors, ...