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Should You Dump Your Broker Because of the Fiduciary Rule?

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It’s time for investors to think again about what they want and what they can expect from the professionals who handle their accounts and give them advice.

Why now? Because a new Labor Department rule that began to take effect in June holds brokers to a fiduciary standard—meaning they have to act in the best interest of their clients—when offering guidance on tax-favored retirement accounts like 401(k)s and IRAs.