Devil's advocate here, if the fiduciary rule goes through a huge amount of small local financial planners and firms would fold.
Anyone who would go out of business due to this rule has no business being a retirement broker in the first place. The fiduciary rule would only hurt firms and financial planners who are already deliberately acting contrary to their clients' best interests. If a financial advisor or firm's business model is entirely dependent upon screwing over their clients or so dependent that requiring them to stop would put them out of business, I don't see anything wrong with forcing them to either start behaving more ethically or find a different profession. Financial planners who'd be put out of business by the fiduciary rule are part of the problem, as far as I'm concerned.
