How to Get Reliable Retirement Planning Advice
February 27, 2017
U.S. News and World Report - The Trump administration is seeking to delay and perhaps
dismantle the fiduciary rule. Originally scheduled to take effect in April, this rule
would have legally required financial advisors handling 401(k) plans and individual
retirement accounts to make recommendations in the best interest of their clients,
and not the most profitable investments for the advisor. Whether the rule will be
implemented is now unclear. Nonetheless, some financial advisors are already upholding
the fiduciary standard.
Ask potential financial advisors if they are willing to act as a fiduciary, which
means they agree to recommend investments that are in your best interest. "The best
protection is for the investor to take matters in their own hand and have whoever
they are considering sign the fiduciary oath," says Harold Evensky, a certified financial
planner and professor at Texas Tech University. "It's a simple mom-and-pop statement
that clearly explains the commitment of the advisor."
Read the story here.