Brokers Owe a Fiduciary Duty to Their Clients for Retirement Advice!

Introduction On June 9, 2017, the U.S. Department of Labor’s rule requiring financial advisors to act as fiduciaries by putting their clients’ best interest before their own when offering investment advice went into partial effect.  Americans lose about $17 billion a year to conflicts of interest with these advisors.  Under the new rule, advisors must […]

Haven’t brokers always owed a fiduciary duty to their clients for retirement advice?

By Robert Tobey Many Americans were surprised by the announcement of the U.S. Department of Labor’s rule requiring financial advisors to act as fiduciaries –putting their clients’ best interest before their own when offering investment advice. The surprise wasn’t the rule itself. It was that most Americans assumed this had been the standard all along. […]