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How the DOL Fiduciary Rule Will End Most Mutual Fund Share Classes
Michael Kitces in Nerd's Eye View Link to more items from this source
Feb. 23, 2017
"[T]he fiduciary rule doesn't actually require that advisors use the lowest cost fund, period ... However, if the advisor is going to recommend an actively managed fund ... it better be the cheapest version of the fund available, because using anything different would represent a conflict of interest for the advisor enriching themselves at the expense of the client with an unecessarily-more-expensive product. Yet taken to its logical conclusion, this means that most variable annuity and mutual fund share classes will be rendered entirely irrelevant under [the DOL fiduciary rule]!"

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