“Check and App,” Conventional Brokerage and a New Alternative

Whether or not the Department of Labor’s (DOL) fiduciary rule is formally enacted, broker-dealers have already initiated changes that are unlikely to be unraveled. Changes to how mutual funds are offered are among these. Firms have been looking for ways to bring more control to which funds are offered and visibility into accounts held by their firm. These needs are particularly evident with mutual fund business done “direct at fund”.

This Envision and U.S. Bank Global Fund Services whitepaper compares check and app mutual fund investing against a conventional brokerage account from three viewpoints:

  • The investor
  • The representative
  • The firm

It then reviews the technology and service factors that should be considered when deciding how best to move forward with the DOL fiduciary rule compliance.