Tag Archives: Fiduciary Oath

Who’s On Your Side?

Friday, June 9 quietly marked/will mark an historic day in the financial services world.  On that date, all financial advisors will be required to forego any sales agenda and give advice that would benefit their clients or customers—or, if they decide otherwise, to explain how and why they intend to give advice that instead primarily benefits themselves and their brokerage company.  This rule only pertains to rollovers from a qualified plan like a 401(k) into an IRA, and to the investment recommendations for that IRA account.  But it may be a first step toward something larger.

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