FYI: The new ruling that is supposed to be implemented on April 10, 2017, is an expansion of the “investment advice fiduciary” part of the Employee Retirement Income Security Act (ERISA) of 1974. Under this new rule, any financial professionals that work with qualified plans, like IRAs or 401(k)s, will be required to act as a fiduciary. In order to do so, an advisor needs to act in the best interests of the client and to put client’s interest above his or her own.
However, with the rise of the robo-advisor, does the lack of human interaction serve in the client’s best interest? We will investigate this idea through this article.
Regards,
Ted
http://mutualfunds.com/new-dol-rule/rise-robo-advisors/
