Fiduciary rule would hurt small investors, poll says

07/3/2013 | InvestmentNews (free registration)

A recent industry poll presented to the Securities and Exchange Commission suggests that an increase in investment advice standards would hurt middle-income investors. About 84% of financial advisors responded that their costs would rise as a result, with 43.9% saying they would pass the higher costs on to clients, and 48% saying they would pursue only clients with a minimum asset level.

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