Company: Morningstar
Category: Technology - Thought Leadership
Initiative: Financial Services Observer, Oct. 2015 – The U.S. Dept. of Labor ‘s Fiduciary Rule for Advisors Could Reshape the Financial Sector
Based on Morningstar analysts’ proprietary estimates, this 53-page research report argues the Dept. of Labor’s conflict-of-interest rule will affect around $3 trillion of client assets and $19 billion of revenue at full-service wealth management firms. Morningstar estimates the low-end of prohibited transaction revenue is $2.4 billion, using Morningstar Direct data. The report puts dollar figures behind illustrations of how discount brokerages, passive investments and robo-advisors will benefit from the rule, while some asset managers and insurance companies will be challenged.
About the Company
Morningstar, Inc., a global provider of independent investment research, offers comprehensive products and services for financial advisors, including investment management.
Morningstar is a finalist for:
· Morningstar® ByAllAccountsSM, our account aggregation service, introduced a web portal with a customizable dashboard that pulls together an investor’s accounts and updates them daily.
· Analyst Michael M. Wong delivered coverage of the fiduciary ruling with “Financial Services Observer: The U.S. Department of Labor's Fiduciary Rule for Advisors Could Reshape the Financial Sector.”
He continues to cover the ruling, which could affect $3 trillion of client assets. Download his latest paper.
· Morningstar Director of Manager Research Laura Pavlenko Lutton’s groundbreaking study, “Morningstar Research Report: Fund
Managers by Gender,” shows that women
are scarce among United States fund managers. Download the paper.
For more information, please visit www.morningstar.com
