Friday, November 11, 2016

DOL fiduciary rule on brokers

One possible big winner in the financial industry from Trump's victory is the broker dealers who tried and failed to push back Department of Labor's fiduciary rule on brokers. The rule basically says that small investors cannot tell the difference between a broker and an advisor and therefore they should be treated the same. Before this DOL ruling, advisors have to consider your best interest in determining if an investment is good for you, but commission based brokers do not.

No comments: