The Consumer Financial Protection Bureau is publishing guides to help family fiduciaries act in the best interest of their loved ones. Its new guide is geared to Virginians.
A fiduciary has to put his or her client’s interests first when it comes to providing investment advice. Employers providing 401(k) plans have had a fiduciary responsibility to the plan participants.
Proposed new rule would hold brokers to a higher standard when they sell retirement investments.
The CFPB today released four guides to help financial caregivers understand their responsibilities.
The U.S. Department of Labor withdrew its proposal yesterday to make investment advisers responsible for the advice they provide to savers in 401(k)s and other workplace retirement plans. The rule change would have required investment professionals to act as fiduciaries, a role that makes them legally responsible to act in the best interest of their