DOL Indie Contractor Rule Would Cause 'Significant Disruption'
The U.S. Department of Labor’s (DOL) new independent contractor rule proposal would cause “significant industry disruption and create a great deal of confusion and uncertainty about independent contractor classification,” according to the results of a new survey by Oxford Economics. Oxford’s analysis is based on a survey sent to financial advisors and independent financial services firms. The effect of the rule “will not only be on independent financial services firms that have developed business models reliant on existing rules, but also on financial advisors who enjoy their independence and Main Street investors served by independent financial advisors,” the report states.
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