Star-Telegram - A new rule to make all financial advisers adhere to your best interests when providing help with retirement accounts received a green light from a North Texas district judge last week.
Currently, brokers must adhere to the "suitability" standard, which requires that they make recommendations that are suitable to a client's personal situation, but does not require the advice be in the client's best interest.
The distinction is important, said Harold Evensky, who co-wrote the fiduciary rule as a member of the Committee for the Fiduciary Standard.
Evensky, who is known as the "Dean of Financial Planning," is a graduate adjunct professor of wealth management at Texas Tech University and chairman of Evensky & Katz/Foldes Financial, a Coral Gables, Fla., firm with $1.5 billion in assets under management.
Read the story here.