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BICE: Financial Advisors Beware
Ron A. Rhoades, JD, CFP 
[Opinion] Feb. 2, 2017
"[The DOL's Best Interests Contract Exemption (BICE)] can result in a misalignment of the interests of the firm and those of its advisors, for the firm can receive more compensation while the advisor's compensation generally must not vary ... Over time, the economic incentives present will result in pressures placed upon advisors by their firms to not act in the best interests of the client ... In the competition for clients, firms that use fee-based accounts will possess a huge marketing advantage over firms that utilize BICE."
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