The U.S. Labor Department wants industry groups to provide information on how its proposed fiduciary responsibility rule would affect IRAs and ERISA plans, but "there are inherent difficulties in providing a comprehensive view of a person's financial decisions in the way [the department] would like to have," NAIFA's Lillian Vogl says. The department wants information about the demographics of financial-account holders, how their advisers were paid and whether the clients received advice. No "systematic way" exists for gathering such data from customers' accounts held with various providers, Vogl said.

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