On June 9, 2017, the DOL Fiduciary Rule went into effect. Whether it will stay in force is unknown as the Trump Administration discusses how to repeal it.
The rule sounds so simple. Advisors (be they stock brokers, investment advisors, insurance agents, etc.) must put the best interest of the clients before their own. It applies only to retirement plans.
Unfortunately, polls show most Americans believe this is already the case. It is not. If you want to make sure the advice you receive puts your interest above the advisors, ask them to put it in writing that they are 100% fiduciaries in all activities.
For Financial Connections Group, you will find it on our website and in our disclosure statement (ADV). We are proud to be fiduciaries to put our client’s interest first regardless of the type of account under advisement.