President Donald Trump’s administration has taken its first step in dismantling the U.S. Department of Labor’s so-called fiduciary rule for financial advisers, but the outcome of that process is far from certain. 

Although an executive order signed by President Trump included strong wording that reflected his administration’s distaste for the standard, it fell short of suspending the rule. Rather, the order calls for a review of the rule, which not only represents standard practice during the transition to a new presidential administration, but could lead to a delay of up to 180 days. But it’s a potential delay that is actually welcomed by plan sponsors, many of whom feel pressed administratively by the rule’s original spring implementation date. Historically, many regulations that have been subject to the same or similar process have ultimately survived intact. 

The fiduciary rule calls for....

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