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What the Fiduciary Rule Means for Retirement Investors

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You know who has your financial best interests at heart? “Wall Street” is probably not the first answer that comes to mind.

But that’s changing this week, thanks to a long-awaited rule from the Labor Department. Introduced by the Obama administration and delayed under President Donald Trump, major components of the fiduciary rule will finally take effect Friday. The new regulations state that advisors who have their hands in your retirement accounts must act as fiduciaries, which means they’re required to put your best interest ahead of their own.

The rule is still under review, and could undergo changes before the full implementation deadline of Jan. 1, 2018. But the portions slated to take effect this week could have a significant...

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