8 Things You Must Know About the New Broker Rule

Uncle Sam is raising the bar for advice that brokers give to retirement savers.

A controversial new rule issued by the U.S. Department of Labor aims to improve the quality of advice that investors receive regarding their retirement accounts. The rule requires that financial professionals who give advice on retirement accounts act as fiduciaries for their clients, meaning that they must put their clients’ best interests ahead of their own financial gain, disclosing their forms of compensation and any conflicts of interest. Here’s what you can expect.

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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.