Fiduciary Rule Proposed by Dept. of Labor May Get Watered Down

Posted by on Jul 15, 2016 in Advice for Advisors, Economy, Investments, Retirement | 0 comments

The Department of Labor (DOL) fiduciary rule is intended to protect owners of plans in IRAs and those that can be rolled over into an IRA. The purpose is to make sure that any recommendation is in the best interest of the investor, not the advisor. The hope is to regulate the greed of advisors who are only looking to make a high commission without concern to the long term impact on the consumer. This rule should weed out unscrupulous sales practices. It is supposed to start rolling out in April, 2017. That would be a very good thing for investors … if it were to happen as originally...

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