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Merrill Lynch Took the Lead on the DOL Rule, Now It's Wrapping Its Flip-Flop in the Same Pious Intent
Lisa Shidler in RIABiz
[Opinion] June 29, 2018 "When it looked like the DOL fiduciary rule was a foregone conclusion two years ago, Merrill Lynch jumped ahead of pack and announced the end of commission-based IRAs with a major advertising campaign exalting its holier-than-thou embrace of the controversial regulation.... When the rule finally died in the federal 5th Circuit Court of Appeals earlier this month, Merrill's reaction was swift.... [It] announced it would be re-examining its position over the next 60 days -- in the name of providing more 'choice.' " MORE >> |
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