While traditional financial advisors have fought the rule, automated or "robo" and other digital advisers have largely spoken in support of it, arguing that digital platforms are more transparent, affordable and lacking in conflicts of interest.

Traditional firms are developing robo-advisors and for less well-off clients, robo-advice could be more affordable.

"People will go to robo-advisors when broker-dealers stop taking on smaller accounts," said Bao Nguyen, director of risk advisory services at the Kaufman Rossin Group, a Miami-based accounting firm.

As proposed last year, the rule gave firms eight months to become compliant, a time frame both supporters and opponents agreed was too short.

"We proposed an 18-month time-frame," said David Blass, general council for the Investment Company Institute. "That's the minimum for what it takes to change disclosure process, change compensation practices and train employees."

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