Tag Archives: Retirement

Why Are Guidelines for Retirement Account Advisors Getting Stricter?

A new rule was passed by the Department of Labor that enforces stricter guidelines on financial advisors who help clients plan retirement accounts. Advisors have come under scrutiny for failing to adhere to their fiduciary duty to the owner of the retirement account. Fiduciary duty entails that advisors act that as if they are the account owner, and not sacrifice the account’s best financial interests for their own gains. A fiduciary has both ethical and legal obligations to act in the best interest of the client when managing their assets. Many fiduciary relationships exist in the business world, including corporate board members and their shareholders. This new rule will not go into effect until 2018, but there are ways to tell if a party is breaking the law and placing you in debt. How Can You Tell If There Is a Fiduciary Breach? If you are involved in a situation…
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