New Department of Labor Fiduciary Rule Roles Out
New Department of Labor Fiduciary Rule Roles Out
June 9th, the new department of labor fiduciary rule roles out without much fanfare. The new rule requires financial advisors to act as fiduciaries. This means that advisors need to act in the best interest of their clients, avoid conflicts of interest, like some forms of commissions, and meet a high standard of care. But, the rule is not so cut and dry. Instead, many advisors dislike the new standard as written. To learn more, checkout this recent Forbes article written by Jamie Hopkins on the topic.