Wealth managers divided on delay of fiduciary rule implementation

BEST INTEREST: From left, Merrill Lynch Wealth Management officials Diane Fiore, senior client associate; Brendan McCarthy, senior vice president, wealth management; and Edythe M. DeMarco, managing director of wealth management, meet at their Providence office. DeMarco says her firm acts in the best interest of clients and is in favor of the fiduciary rule that would require the same. / PBN FILE PHOTO/­RUPERT WHITELEY
BEST INTEREST: From left, Merrill Lynch Wealth Management officials Diane Fiore, senior client associate; Brendan McCarthy, senior vice president, wealth management; and Edythe M. DeMarco, managing director of wealth management, meet at their Providence office. DeMarco says her firm acts in the best interest of clients and is in favor of the fiduciary rule that would require the same. / PBN FILE PHOTO/­RUPERT WHITELEY
The decision to once again delay full implementation of the so-called fiduciary rule comes with a sigh of relief to some financial planners not quite ready for the Jan. 1 deadline. But the 18-month delay, approved by the Department of Labor last month, prolongs regulatory uncertainty surrounding the retirement-investment community that could be stalling the…

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