Does the Financial Industry Hate the Fiduciary Rule?



Some are fighting a proposed Department of Labor rule that would expand the number of individuals in the financial industry who would be required to act as fiduciaries. They fear the new rule would dramatically reduce their ability to sell certain products — and, possibly, decrease their fees and commissions. There’s one group that must already act as fiduciaries: registered investment advisors. If your advisor is not an RIA, well, then they might not be legally obligated to act in your best interest.

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