According to the Financial Times, The U.S. Department of Labor's new fiduciary rule will force retirement advisers to shift the assets towards cheaper investment products and away from actively managed funds. American families have lost an estimated $17b a year due to conflicts of interest.
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Fiduciary rule threatens fee base
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The majority, or 59 per cent, of the Top FT 401 advisers surveyed by Ignites Retirement Research say any actively managed equity fund with an expense ratio of more than 100 basis points (bps) will raise alarm bells; the threshold is lower at 75 bps for 14 per cent of the respondents.
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