fiduciary rule

The fiduciary rule requires financial professionals who provide investment advice to act in their clients' best interests, prioritizing clients’ needs over their own profits. This means they must recommend suitable, honest solutions, disclose any conflicts of interest, and avoid misleading clients. The goal is to ensure transparency and trust, giving clients confidence that advice is genuinely designed to benefit them financially. It applies mainly to registered investment advisors and financial planners, promoting ethical standards and protecting consumers from potential conflicts that could harm their financial well-being.