The rule was struck down in federal court, but the questions it raised around serving clients appropriately are alive and well.
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Fellow professional services firms such as Deloitte, Ernst & Young, and KPMG have already undergone significant layoffs.
The Garden State is considering changes to rules regarding contractors and employees. Advisors don’t like it, a poll suggests.
Some praised the move while others said alts in employee-sponsored retirement plans conflict with fiduciary standards and can harm clients.
The regulator nixed Biden-era guidance that discouraged 401(k) plans from including crypto and other digital assets.