401K

What You Need to Know About the Fiduciary Rule and When It May or May Not Protect You

What You Need to Know About the Fiduciary Rule and When It May or May Not Protect You

Rules have been changed concerning investment professionals and retirement accounts. In the eyes of many, the change is good.

The “fiduciary rule” went into effect June 9th. This Department of Labor rule stipulates that any financial industry professional who makes investment recommendations to participants in qualified retirement plans in exchange for compensation will be considered a fiduciary.

What does all that mean?