Compensation and Benefits

Why the fiduciary rule matters

The implementation of the Department of Labor's fiduciary rule has been postponed from its April 10 scheduled start date. And if you're an investor, that should scare you.

The fiduciary rule is simple. It says anyone selling investment products to people with money in retirement accounts must put the client's interest first, and must fully disclose all costs, fees, commissions, rebates and benefits from selling the product.

Delaying the rule opens the door for high-pressure salespeople to peddle inappropriate and cost-heavy products that could devastate your retirement account as you roll that hard-earned money from a company plan into an IRA.

If you think that rule...