Retirement - Fiduciaries

This just in:

I remember years ago that something like this was to take effect – around 2011 or so? My financial advisor sent out paperwork explaining that they were now fiduciaries.

But I guess the law or guidelines got scuttled somewhere along the way?

In refeshing my memory, I found this timeline (written in 2016, so I don’t know what happened between 2016 and now)
Historical timeline of fiduciary duty for financial advice - InvestmentNews

The comments in the original article are interesting, too.

I believe what happened is people and companies that wanted to say they were fiduciaries yet still not act in the best interest of the client fought the rules and the government watered them down. I still don’t see any teeth in this latest attempt.