By Kathleen McBride via Iris.xyz
This is very meaningful for retirement investors. The DOL Fiduciary Rule’s Impartial Conduct and Best Interest Advice standards WILL BE IN EFFECT STARTING JUNE 9, 2017.
For Investors, this means:
1) Best Interest Advice for you
2) Reasonable costs for advice and investments
3) No misleading the investor
If someone advising you breaks these rules, you have recourse.
Over the long term this should mean you end up with more money in your retirement nest egg.
1) Advice on your 401(k) investments – if an advisor suggests or recommends what you should buy in your 401(k) account – and is compensated for that advice.
Click here to read the full story on Iris.xyz.