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Compliance Technology Solutions Under the DOL Fiduciary Rule
Michael Kitces in Nerd's Eye View Link to more items from this source
July 25, 2016
"The financial services industry has not adopted a standardized advice process for advisors to consistently adhere to, in order to demonstrate their fiduciary duty of care and due diligence. Nor is there any clear agreed-upon framework to determine when a particular recommendation is 'best' or not, based on a specific set of client goals and circumstances.... [T]he DOL fiduciary rule may actually spawn the next generation of 'robo-advice' software, designed not directly for consumers, but as a compliance-driven solution to ensure that all advisors in the organization are giving the same consistent advice[.]"

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