Regardless of what happens as the DOL rule’s implementation is delayed once more, and as the rule itself faces potential revision, certain trends will remain present, according to Practical Perspectives. The industry’s movement away from commissions and towards fee-based or advisory platforms will continue. Similarly, advisors are likely to permanently change the way they handle 401(k) rollovers.
In addition, advisors are likely to progressively engage less with smaller clients who may not be feasible in fee-based environments.
The Practical Perspective findings were based on a survey of approximately 300 advisors during August 2017.