There are varying predictions regarding the effects that the Department of Labor’s (DOL) fiduciary rule will have. Some of those crystal ball views are positive, and one of them is the results of a recent study in which a majority of plan providers are optimistic about how it will affect asset retention rates.
The LIMRA Secure Retirement Institute found in a recent study that almost two-thirds of the retirement plan providers and record keepers that participated said they think the rule will not affect, if not improve, their overall asset retention in the next two years.
Specifically, 28% said the fiduciary rule will enhance asset retention, and 36% think it at least will not hurt retention. The remaining 36% think it will hurt retention slightly.
“The DOL fiduciary rule impacts all qualified assets and will likely have a major impact on the rollover market, with some DC plan providers benefitting from increased in-plan retention due to a slowdown in IRA rollover activity,” said LIMRA Secure Retirement Institute Assistant Vice President Matthew Drinkwater in a press release.
The LIMRA Secure Retirement Institute found in a recent study that almost two-thirds of the retirement plan providers and record keepers that participated said they think the rule will not affect, if not improve, their overall asset retention in the next two years.
Specifically, 28% said the fiduciary rule will enhance asset retention, and 36% think it at least will not hurt retention. The remaining 36% think it will hurt retention slightly.
“The DOL fiduciary rule impacts all qualified assets and will likely have a major impact on the rollover market, with some DC plan providers benefitting from increased in-plan retention due to a slowdown in IRA rollover activity,” said LIMRA Secure Retirement Institute Assistant Vice President Matthew Drinkwater in a press release.
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