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The Basics of the Fiduciary Rule

Thomas Avellino

A seasoned financial investment advisor, Thomas Avellino works alongside clients in New Jersey to help them develop adequate financial plans. As part of his work, Thomas Avellino helps those retirees create strategies that will enable them to live comfortably.

In 2017, the “fiduciary rule” will become an important aspect of retirement planning. Created by the Obama administration, the rule states that all of those providing retirement planning advice immediately reach the fiduciary level, meaning they are bound to meet the ethical and legal standards of the status.

This provides peace of mind to retirees, who can feel safe in the knowledge that any financial advisors they work with are legally bound to operate in their client’s best interests. For example, the fiduciary rule will prevent advisors from selling investments based on their profitability for the advisor as it mandates that all actions taken must stay in accordance with the client’s goals and financial situation.
Following a short delay, the fiduciary rule will take effect on June 9th, with a nationwide rollout scheduled for January 1st, 2018.

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