Why Trump’s Move to Dismantle Rule Protecting Investors Isn’t a Bad Idea

Don’t get me wrong: The fiduciary standard is laudable, but the Department of Labor’s rule is flawed. We can do better.

(Image credit: Matej Moderc)

On Feb. 3, the Trump administration signed an executive order that may derail a rule that the Department of Labor (DOL) had planned to implement to help protect retirement savers. Briefly, rather than being forced to take on the role of “fiduciary” that the DOL rule would’ve demanded, this new directive will continue to allow brokers and certain types of advisors to place their own interests ahead of those of their clients.

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Scott Hanson, CFP
Financial Advisor and Co-Founder, Hanson McClain Advisors

Scott Hanson, CFP, answers your questions on a variety of topics and also co-hosts a weekly call-in radio program. Visit HansonMcClain.com to ask a question or to hear his show. Follow him on Twitter at @scotthansoncfp.