Department Of Labor Two

In their effort to regulate IRA’s, the Department of Labor is proposing to require commission brokers have the same fiduciary responsibly that Registered Investment Advisors do. The devil is in the details, but, basic this means that broker’s actions or recommendations must be in the best interest of the client, not the broker. (Makes you wonder what they do now.) For example, if a broker recommends that an IRA investor sell a stock they currently own and buy a different one, the broke must d...