Survey on the Department of Labor Fiduciary Rule
July 7-12, 2017
The Department of Labor's Fiduciary Rule is already negatively impacting financial professionals and the consumers they serve. On behalf of the Financial Services Roundtable, Harper Polling conducted a survey of financial professionals across the country on the impact of the DoL Fiduciary Rule.
Key Findings Included:
>Only 12% of financial professionals say that the new rule is helping them to serve their clients' best interests.
>A majority of respondents said that the rule is restricting their ability to serve their clients' best interests (50%).
Financial professionals anticipate taking on fewer small accounts and offering fewer investment options to clients due to the rule.
>More than a third of financial professionals say that their "clients have expressed their displeasure about the impacts of the DoL fiduciary rule on service or price."
You can view the full survey results
The Financial Services Roundtable release regarding these results can be viewed
Harper President Brock McCleary discussed the findings of our survey at an event at the US Chamber of Commerce, "Fiduciary Duty: Assessing the Real World Impact." You can view video of that event