Jill On Money: Progress on fiduciary

For years I have bemoaned the fact that many financial professionals were not always required to act in the best interest of their clients, i.e., they were not required to adhere to the fiduciary standard of care. Instead, brokers and insurance reps who sold securities products were held to a lower standard of care called “suitability,” which meant that what they recommended had to clear the low bar of what is suitable, though not necessarily in your best interest. Recently, …