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eAlert: Investment Advisors and Brokers Handling Retirement Accounts Are Now Fiduciaries

April 2016

Clifford S. Davidson
503.243.1653
Investment advisors and brokers handling Individual Retirement Accounts (IRA) and 401(k) accounts are considered fiduciaries of their clients, according to a Department of Labor rule that became final today. The rule requires investment advisors and brokers to act in the best interests of their clients, even if that means lower compensation for the advisor/broker. The final rule is available here. Sussman Shank attorneys are ready to assist with any questions or concerns about the new rule.


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