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Financial Planning

Digital wealth firms react to an endangered fiduciary rule

By Sean Allocca

After a federal court struck down the Labor Department’s revised fiduciary rule, the digital wealth management industry’s top chiefs are speaking out.

The decision is not only a step backwards for the industry, but attacks millions of hard-working retirement savers, says Betterment CEO Jon Stein. “Once again, Wall Street firms have won at the expense of the individual investor,” he says.

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This article originally published March 16th, 2018 on Financial Planning