DOL Fiduciary Rule Reportedly Delayed, but Industry Itself Is on Path to More Fiduciary Practices
While it’s been reported that the U.S. Department of Labor has requested an 18-month delay to the implementation of the second phase of its fiduciary rule to July 2019 from January 2018, we continue to see evidence that the U.S. financial industry has already begun reducing conflicts of interest between financial advisors and their clients. The delay to the rule was largely expected, as President Trump directed the Department of Labor to re-study the effects of the rule. Additionally, extra time...State Street is a financial holding company. Through its subsidiaries, the company provides a range of financial products and services to institutional investors. The company's clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers. The company's Investment Servicing line of business performs custody and related functions, such as providing institutional investors with clearing, settlement and payment services. The company's Investment Management line of business, through State Street Global Advisors, provides a range of investment management strategies and products for its clients.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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