Texas Tech University

Best Interest Initiative

Texas Tech University to Explore DOL Fiduciary Rule

The Best Interest Initiative is a research project designed to explore consumers attitudes and beliefs about the terms "best interest" and "reasonable compensation" as it applies to the April 6, 2016, DOL fiduciary rule. This research will survey consumers to determine what they think about these terms and how they experience them. In addition to reaching out to consumers, the research team will also survey advisors in the financial services industry.

There will be three distinct phases of this research. Phase 1 objectives include three objectives. First, to understand the consumers' generalized view of what it means for an advisor to act in their best interests. Second, to illuminate the gaps (if any) between how advisors view best interest and how consumers view it. Third, to understand how advisor compensation models (both current and future), impact the consumer view of whether or not advisors are acting in their best interests.

Phase 2 implement the knowledge gained from Phase 1 to build best practice models for further exploration.

Phase 3 will develop a longitudinal survey to examine changes and/or improvements of consumers and advisors as it applies to "best interest" and "reasonable compensation".

The Best Interest Initiative seeks strategic partners interested in meaningful research that will explore the parameters of the "Best Interest" and "Reasonable Compensation".

For more information contact Dr. John Gilliam.

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