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Department of Labor Form Lm 10 Pl 86 257 as Amended

Department of Labor Form Lm 10 Pl 86 257 as Amended

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this past week the US Labor Department issued new regulations requiring financial advisers handling 401ks and other retirement accounts to act in the best interests of their clients for more on this story our business analyst Jill slesinger is here uh Jill a lot of people might wonder shouldn't the financial advisers be acting in the best interest of their clients already well previous to this rule they were held to a lower standard it's called suitability that meant what I recommend to you has to be suitable so if you're 85 years old you're risk averse no social media startup but but I could have recommended a product that was maybe expensive that was not in your best interest with this Rule now I must put your best interest first ahead of mine or my company's now I want to reiterate this is only for retirement accounts if you have a non-retirement account there's still may be some cases where the person's held to suitability to

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