Despite a delay and speculation around outright repeal, the Department of Labor’s fiduciary rule is now applicable. It’s taken the better part of a decade for the DOL to make this happen.
Rob Foregger, co-founder of our client NextCapital, shared his reaction and insights with Wealth Management.
“Think of it like the Hippocratic Oath for retirement investing,” Foregger said. “When you go to the doctor, you expect to receive nonconflicted medical advice, which is always in your best interest. When you seek retirement advice from a financial professional, you should also expect the advice to be in your best interest.”
For more industry reactions, read the full story from Wealth Management.