Commentary: Uniform fiduciary rule may drive broker-dealers away

06/9/2013 | National Underwriter Life & Health

A uniform fiduciary standard would mesh well with the existing model for registered investment advisers, but it could increase legal liability for broker-dealers who sell products from a single carrier, Warren Hersch writes. Many broker-dealers would be driven from the profession as a result, leaving the middle market even more underserved, he writes. Hersch suggests that strengthening disclosure rules for broker-dealers might be a better alternative.

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National Underwriter Life & Health

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