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Invesco CEO sees silver lining in DOL fiduciary rule


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Invesco CEO sees silver lining in DOL fiduciary rule

President and CEOMartin Flanagan is worried about unintended consequences from the Department ofLabor's fiduciary standard regulation, but believes the rule could help restoresome lost investor confidence.

Speakingduring an earningsconference call, Flanagan said he is concerned the rule could lead to morecosts for investors who seek financial advice. However, he noted that therule's intent is to ensure retirement investors receive enhanced protections,and that could lead to more demand for financial advisory services.

"Thekey outcome of the new rule could be greater confidence in the advice investorsare receiving," he said.

Flanagannoted that some investors lost confidence in the markets during the aftermathof the financial crisis, and said it is important to take steps that encouragemore investing.

"Itis well known that many investors aren't saving enough to maintain theirstandard of living during retirement," he said.

Still,Flanagan sees the rule as long and complex and said Invesco is seeking tounderstand how clients will adopt the rule and will look to assist them.

"[Invesco]has tremendous experience in addressing regulatory topics," he said."We view this as an opportunity to further deepen our relationships,provide new capability and enhance our business."