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.
The company's annual benchmarking study found that credit unions are far ahead of others in making the transition.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
