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Trump’s Fiduciary Rule Order Seen Unlikely to Stop Fee Shift

  • President expected to sign an executive order Friday
  • Dodd-Frank regulations also in administration’s crosshairs
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Fiduciary Rule: How It Impacts Financial Services

President Donald Trump’s executive order to halt the Department of Labor’s fiduciary rule is unlikely to derail the customer-friendly changes already under way in response to the Obama-era regulation.

“We plan to go forward with the majority of the work we’ve done,” said Bill Morrissey, managing director of business development at LPL Financial Holdings Inc., echoing executives at several investment-management firms. “What investors want is more transparency and lower fees.”