Ninety-Three Percent of Americans Think Financial Advisors Should Be Fiduciaries Despite Increasingly Uncertain Future of the Conflict of Interest Rule, Financial Engines Survey Shows

SUNNYVALE, Calif.--(BUSINESS WIRE)--While the fate of the U.S. Department of Labor’s conflict of interest rule (also known as the fiduciary rule) grows increasingly uncertain and more complex with its recent delay until June 9th, a new survey from Financial Engines (NASDAQ:FNGN), America’s largest independent investment advisor,1 shows that Americans overwhelmingly favor the intent of the rule. According to the survey, 93 percent of Americans think financial advisors who provide retirement advice should be legally required to put their clients’ best interest first. However, more than half of respondents (53 percent) mistakenly believe that all financial advisors are already legally required to put the best interests of their clients first.