The National Association of Insurance and Financial Advisors told the U.S. Department of Labor earlier this week that the DOL fiduciary rule is already hurting NAIFA members, and the NAIFA members’ clients.
NAIFA gathered information for a new comment letter by conducting a member survey. The group received 1,093 responses.
- 46% of the participants said the number of products they can offer clients has dropped.
- 20% said they have seen minimum account sizes rise.
- 43% said their commission compensation arrangements have gotten worse.
