With the rise of fintech and the increasing participation of millennials in the client space, there is likely to be more demand for this type of fee disclosure, Rostad said. “This is a price list, not a good-faith estimate with exactness and specificity. This is a step toward the final price. Eventually, the industry will have to get to the point where they’re able to deliver a good-faith estimate to Mr. and Mrs. Jones that details all-in costs the investor will be charged. That’s where we’re headed. Advisors who resist will be run over.”

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