The DOL fiduciary rule is likely to be a disruptive force within the insurance and financial industries during the next several years. Panelists during a session Sept. 26 at the Insured Retirement Institute's Vision annual conference in Colorado Springs, Colo., explored some of the possible outcomes of the rule.
While industry players are still absorbing the language and nuances of the rule as well as the practical impact on their operations, the potential for class-action lawsuits was top of mind for panelists.
"Trust me, they will come," Bernie Gacona, SVP and director of annuities for Wells Fargo, said.
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