How to Find Reliable Financial Advice as Regulations Change

June 07, 2019 Consumer Reports

For investors, finding a trustworthy financial adviser is about to get a lot more challenging.

This week, the Securities and Exchange Commission (SEC), approved new rules governing brokers and financial advisers that change the standards of conduct toward investors. Consumer advocates say the new rules may reduce some investor protections, as well as add to investor confusion….

Get a Fiduciary Commitment

In addition to transparent fees and clean records, you want your adviser to put your interests firsts. Consider narrowing your search to those who use the CERTIFIED FINANCIAL PLANNER™ designation. Starting in October, the CFP Board of Standards will require planners using that mark to act as fiduciaries—putting customer interests first—at all times.