Not all retirement advisers are required to give you good advice. That's about to change.

Not all retirement advisers are required to give you good advice. That's about to change.

by Ariel Stulberg at Vox

http://www.vox.com/2015/12/21/10634980/obama-fiduciary-rule-explained

"SNIP............


Maybe you have a financially savvy friend or family member. But a lot of people turn to professional advisers.

The things is, right now, there are two kinds: those who are required to work in your best interests, and those who — amazingly — are not.

With the passage of a major budget deal last week, an Obama administration proposal to change that — to require all retirement advisers to give good advice, or at least to try — survived opponents’ last, best opportunity to delay or weaken it.

When the rules change, as they’re expected to next year, savers will gain the right to sue or initiate arbitration against advisers who don’t meet the higher standard or who fail to disclose conflicts.



..............SNIP"