Regulatory reform is top-of-mind for most registered investment advisors, according to the latest TD Ameritrade Institutional Survey. RIAs expect they’ll need to devote more time to managing new regulation requirements, which they say could reduce time with clients. The response replaces business growth as the No. 1 when surveyed only six months ago.
“Regulatory changes are clearly weighing on the minds of RIAs right now, reflecting a growing fear of the unknown,” said Brian Stimpfl managing director of advisor advocacy and industry affairs, TD AMERITRADE Institutional, and Boomer Market Advisor contributing columnist. “While there is little consensus on the impact new regulatory rules or oversight might have on advisors, there is significant concern new regulations could put downward pressure on profitability and reduce time with clients.”