Article: June 12, 2017 “Pay attention to retirement account fees”
Ms. Savage, In regard to the fiduciary rule discussed in your June 12, 2017 article, I was wondering if clients of the brokerage firm that agreed to the rule are supposed to sign any forms? I do not mean in-house forms, but standardized forms that all brokers must use.
Terry Says
The Fiduciary Rule is getting bounced around again. Powerful Wall Street interests are still hoping to get it revised or delayed. There is no one official "fiduciary form" that advisors must sign. But you could certainly ask your potential advisor or broker to put it in writing. Will he/she sign a statement like this: "With regards to your account, I am acting as a fiduciary and promise to put your interests ahead of my own, and fully disclose all fees and commissions." That should do it!
