Blowing Down That Fiduciary RuleIssue 02-13-17 |
President Trump ordered the Labor Department to reconsider the fiduciary rule, scheduled to go into effect in April 2017. The fiduciary rule requires financial advisors to put client interests first when handling retirement accounts.
Critics find the rule too burdensome and a solution in search of a problem. There has been a trend away from commission-based financial products in retirement accounts and towards index and exchange-traded funds which do not have sales fees.