Labor Department rule sets new standards for retirement advice

April 6, 2016 10:24 AM

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Labor Department rule sets new standards for retirement advice

The Labor Department released more details about a long-awaited rule expected to be released Wednesday that would set limits on the advice that brokers can offer to retirement savers.

Under the “fiduciary rule,” which has been in the works since 2010, brokers selling investments to retirement savers would be required to put the client’s interest ahead of their own. The sweeping rule change would create a higher standard than the current regulations, which only require that broker...

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