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Barry Ritholtz

Retirement Savers Really Do Need Government Help

The Trump administration will let a rule to go into effect requiring financial advisers to put client interests first. But more needs to be done.
He shouldn't have to go it alone.

He shouldn't have to go it alone.

Photographer: Brendon Thorne/Bloomberg

I have some good news and some bad news.

The good news is that the Department of Labor’s fiduciary rule, which states that any broker or manager offering advice on retirement-savings  accounts must put the clients’ interests first, looks like it will survive. It goes into effect officially on June 9.