Financial advisors will have a new regulation to deal with starting April 10: It's called the fiduciary rule, and it's the biggest legal change governing the financial advice industry in years.
Endorsed by former President Barack Obama's administration, the "fiduciary standard" will have significant implications for the investment world. Said differently, Obama pushed to require financial advisors to put the client's needs before their own. That's right. Until the rule goes into effect, your advisor may not have your best interests in mind. As the law currently stands, broker-dealers, insurance salespersons and advisors operating under the "suitability standard" are merely required to ensure an investment is suitable for a client at the time of the investment. Read Article: http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2015/03/19/is-your-financial-advisor-a-fiduciary Comments are closed.
|
AuthorJoshua Nahas Archives
May 2017
Categories |