THE NEW DOL FIDUCIARY RULE

Consumer Protection at a Cost? The New DOL Fiduciary Rule

The Department of Labor just issued its final rule that amends the definition of “fiduciary” under the Employee Retirement Income Security Act (ERISA). The rule categorizes anyone providing investment advice in retirement accounts as a “fiduciary.” The rule thus requires all those giving investment advice to act in the best interest of their clients. What!?…

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