Summary: For some time, banks and credit unions have been urging customers to change their business from transactional to fee-based. Those who have resisted have a variety of reasons supporting their status quo position. However, at this point, conversion appears to be almost mandatory.
 Research firm Cerulli Associates says that “firms will avoid [individual retirement account] solutions if the advice provided receives compensation that the DoL considers potentially influenced by conflict of interest such as commissions and revenue sharing.” |
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