Credit union financial advisers may be better positioned than others to adapt to the Department of Labor’s controversial fiduciary standard for qualified retirement accounts, according to a study released by Kehrer Bielan Research & Consulting on Wednesday.

The new rules will push advisers working in financial institutions to move from primarily transaction business to all advisory business. Congress passed a joint resolution that would have disapproved of the rules, but President Obama vetoed the resolution and Congress failed to override it.

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David Baumann

 

Credit Union Times

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