December 1, 2017

Fiduciary Rule Delayed by Trump Administration

The Labor Department said an 18-month postponement of enforcement of several key provisions of the fiduciary rule has become official. The effective date of the best-interest contract exemption and related exemptions has been changed from Jan. 1, 2018, to July 1, 2019.
Financial "advisors" can continue to put their own financial interests ahead of their clients thanks to the pro-business, anti-consumer Trump administration.Financial salespersons can continue to recommend investments that line their pockets and put their own interests ahead of their clients.
Why should advisors put their clients best interests ahead of their own? Just one more anti-consumer action from the current powers.
Have you asked your "advisor" yet whether he is a fiduciary? If not, it's long past time.

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