Fiduciary Duty Explained
On April 6, 2016, the U.S. Department of Labor issued a ruling which states that all retirement financial advisors must operate as fiduciaries for their clients. This means that they must put the client's interests above all others, including their own.
The rule is in response to a statement made by President Obama in April 2015: "Today, I'm calling upon the Department of Labor to update the rules and requirements that retirement advisers put the best interests of their clients above their own financial interests. It's a very simple principle: You want to give financial advice, you've got to put your client's interests first."
IMPORTANCE OF FIDUCIARIES
Many people are not aware that there are advisors who are not required by their companies to serve as fiduciaries. Fortunately, Filbrandt Investment Advisers clients do not have that concern. We serve our clients in a fiduciary capacity, and will continue to do so.
If you are looking for a fiduciary to handle your university retirement planning accounts, Filbrandt Investment Advisers is one of the country's leading experts in dealing with university retirement accounts. We stand ready to serve you.