(Source) – The Secretary of Labor reaffirmed that the fiduciary rule will begin to phase in on June 9. The new definitions of who is a fiduciary will go into effect along with the impartial conduct standards on June 9–60 days later than originally planned….This means that on June 9, IRA advisors and others will be expected to provide advice that is in retirement investors’ best interests, charge no more than reasonable compensation, and avoid misleading statements. Click here for the full article.
Our take – Ever since Lighthouse Capital opened in 2012, we have utilized a business model that puts our financial advisers in a position to work in our client’s best interest. To be candid, we find it to be a black eye on our industry that there are many adviser’s currently operating without their client’s best interest in mind. If you are concerned that your financial adviser may not be working in your best interest, contact us at firstname.lastname@example.org.