ML-Implode News - 'Real' financial advisors do not fear the retirement-savings rule

Real financial advisors do not fear the fiduciary rule. "Real" financial advisors -- for instance, those tested, licensed and regulated by the Securities and Exchange Commission as Registered Investment Advisors -- are already held to a fiduciary standard, for starters. It is only brokers and other advisors, who sell financial products for a commission, that are clinging to a lesser bar.
Real financial advisors overwhelmingly support the Department of Labor's fiduciary rule, which at present only applies to Americans' retirement accounts. While the rule isn't perfect and contains some loopholes, real financial advisors embrace the wider application of the fiduciary standard and remain hopeful that the rule will expand further to ensure anyone who receives financial advice on any account or in any capacity is also protected by it.

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'Real' financial advisors do not fear the retirement-savings rule