What the Government's New Financial-Adviser Rule Means to You

The Department of Labor aims to keep bad investments out of your retirement accounts.

In a long-anticipated move, the U.S. Department of Labor on April 6 unveiled a final rule that raises the bar for investment advice provided to retirement savers. Under the rule, essentially anyone providing investment advice on a retirement account in exchange for compensation must act as a fiduciary, meaning he or she must put the investor’s best interests ahead of his or her own.

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Elizabeth Leary
Contributing Editor, Kiplinger's Personal Finance
Elizabeth Leary (née Ody) first joined Kiplinger in 2006 as a reporter, and has held various positions on staff and as a contributor in the years since. Her writing has also appeared in Barron's, BloombergBusinessweek, The Washington Post and other outlets.