Timing of Fiduciary Rule for Retirement Plans Questioned

If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest. The U.S. Department of Labor was in the final stages of preparing a proposal that would establish a so-called fiduciary standard for retirement plan advisers, which means they’d be required to put their clients’ financial interests ahead of their own when offering investment advice. A number of consumer groups …

Does My Financial Adviser Have My Best Interest at Heart?

If you think your financial adviser is giving you retirement investment advice that’s in your best interest, you could be sadly mistaken. What you may not know is that many financial professionals aren’t required to put their clients’ best interests first because they’re not bound to a fiduciary standard (a legal requirement to act in the investor’s best interest). So the financial advisers you trust may actually be motivated more by the commissions they get from steering you into certain …