Another Blow to the Fidicuary Rule

The battle for who has to act as a fiduciary continues. The Fifth Circuit has vacated the DOL fiduciary rule that has been the subject of much debate.  https://bnanews.bna.com/…/obama-era-fiduciary-rule-vacated-…

The battle of who must be a fiduciary has raged for well over a decade but one thing that has never changed: a Registered Investment Advisor is still mandated to act in a fiduciary capacity in all matters which has been the rule since the Investment Company Act of 1940 was passed.

While this latest step backward is not a win for the consumer, those that continue to educate themselves about how to select a qualified advisor can still find the peace of mind they seek. Just keep these in mind and you'll be fine:

- Choose a Certified Financial Planner practitioner
- Choose a planner with experience in many different market cycles, both up and down
- Choose an advisor that is fee-only and not paid on commission

If you stick to those simple rules, you can be absolutely certain that your advisor has the education, training, experience and commitment to help better your financial future.