Advisors are also concerned about robo-advisors. Forty-six percent feel this technology is a threat to their business. Seventy percent say the competition will force them to work harder to show clients the merits of their services.

The survey also asked advisors how they think the Department of Labor-proposed fiduciary standard would affect the industry. Seventy-one percent said it would limit the investment options made available to investors. But 55 percent said the rule would result in more innovative advice models and fee structures for underserved investors.

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