Ruling Compels Advisers to Protect Your Best Interests

Filbrandt Reports
Volume 17, Issue 1

Report Summary:

  • The Department of Labor has ruled that all financial advisers giving retirement plan advice must operate as fiduciaries for their clients.
  • The fiduciary standard of care requires that a financial adviser act solely in the client’s best interest when offering personalized financial advice. 
  • The clients’ interests are held above all others, including the financial adviser’s. We operate under this standard. Many professors are not aware that their advisers may not be operating under the fiduciary standard.
  • This report includes a sample Fiduciary Agreement which you can present to any adviser. It is a way to determine whether he or she is operating under the fiduciary standard.

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Volume 17, Issue 1

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