MSN - When President Donald Trump ordered a review of the Labor Department's fiduciary rule for possible revision or repeal, he put into doubt the government's commitment to ensuring that all retirement savers get advice that is in their best interest.
To ascertain whether an adviser is a fiduciary, simply ask, said Deena Katz, a professor of personal financial planning at Texas Tech University. If you get an unclear response, ask the name of the adviser's regulator. The Securities and Exchange Commission and state securities regulators oversee RIAs, while the Financial Industry Regulatory Authority regulates brokers.
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