The issue is fiduciary duty — two words that
most investors don't understand, yet that shape the
financial products you're
sold and your relationship with your
financial adviser.
Beyond that, I think when
most people talk about «
financial planners» they're actually talking about investment
advisers — people who
sell and offer advice on investments.
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It blamed uncertainty surrounding certain pending regulations, particularly the Department of Labor's fiduciary rule, which would make
most financial advisers fiduciaries if they were
selling financial products to a client's retirement account.