More reps plan shift to fees post-DOL: Cerulli report

Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates.
FEB 27, 2017

Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates. The advisers believe the move will better position them to comply with the rule, Cerulli said. The Boston-based research firm also noted that close to half (47%) of all advisers believe that the registered investment adviser business model will become more appealing in a post-DOL rule environment. "As advisers become increasingly comfortable operating in a fee-based environment and embrace fiduciary duty, they may be more likely to consider the RIA channel," the report said.

Latest News

Goldman leads wave of prediction market bans at financial firms
Goldman leads wave of prediction market bans at financial firms

As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies

Advisor moves: Baird recruits $600M veteran pair to director roles in North Carolina
Advisor moves: Baird recruits $600M veteran pair to director roles in North Carolina

Meanwhile, Wells Fargo lures defectors from UBS and JPMorgan to expand in the East Coast, while another bank aligns itself with RayJay's financial institutions division.

AI may be nudging some older workers into early retirement, study finds
AI may be nudging some older workers into early retirement, study finds

New research suggests AI-exposed workers over 55 are leaving jobs more often than before ChatGPT’s rise.

Wall Street banks promoting AI agents from research aids into digital coworkers
Wall Street banks promoting AI agents from research aids into digital coworkers

Agentic AI is landing in trading, treasury and wealth management roles across major banks, with advisory functions as the next frontier.

People moves: FiNet hires former LPL executive Andrew Harpp, Ellevest names new CIO
People moves: FiNet hires former LPL executive Andrew Harpp, Ellevest names new CIO

Wells Fargo affiliate and women-focused wealth firm both promote leadership as they scale advisor support.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income