5 Things Your Financial Planner Isn’t Telling You About Retirement – Kiplinger Personal Finance

Know your goals and do your homework before signing on.

Personal finances can get complicated fast, which is why many people seek the assistance of a financial adviser. Especially when considering your retirement, it can give you extra confidence to know that a professional is helping ensure you make the best decisions for your future.

See Also on Kiplinger: Read Insights From Financial Pros in Kiplinger’s Wealth Creation Channel

It may therefore come as a surprise to know that historically, financial advisers haven’t been required to put your best interests first. But in April 2016, the Labor Department finalized a new rule that requires financial advisers who deal with retirement accounts to respect what’s known as the fiduciary standard, meaning they have to put the client’s interests first.

Before, financial advisers just had to follow the suitability standard, which…

Full article from the Source…

Back to Top