Barry Ritholtz, Columnist

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.

May 24, 2017 at 5:08 PM UTC

By Barry Ritholtz

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

He shouldn't have to go it alone.
Photographer: Brendon Thorne/Bloomberg

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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.