(Bloomberg) -- The Obama administration’s plan to tighten rules on brokers providing retirement-savings advice is “almost unworkable,” according to Stifel CEO Ron Kruszewski, whose firm has both employee and independent advisors. 

“Small investors will be forced to leave the brokerage firms,” Kruszewski said during an interview on Bloomberg Television this week. The plan will “increase costs and reduce choices for the smallest investors," he added.

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