Only 11 percent of advisors say they are ready for the Department of Labor fiduciary rule that will go into effect in April, according to a survey of 275 financial advisors released Monday by SEI Advisor Network.

Forty-one percent of advisors say they are almost ready for the new rule requiring fiduciary standards be applied to retirement advice, the survey says.

Compliance issues are the biggest concern for 24 percent of advisors going into the new year and an equal percentage are concerned about fees. Fifty-five percent also say they plan to increase expenditures in technology to comply with new regulations.

“We believe advisors need to continue to prepare for the DOL rule despite current speculation that it will not come to fruition because of the incoming [Trump] administration,” says Wayne Withrow, executive vice president of SEI and Head of the SEI Advisor Network. SEI is a global provider of support services for advisors, said in a prepared statement.

“These survey results demonstrate that the DOL rule is impacting advisors’ considerations in several aspects of their business when looking at 2017, which is one reason we are seeing advisors reevaluate their infrastructure, increase attention to client-facing activities and focus on the outsourcing of non-client facing activities,” says Withrow.