With Obama's push, is fiduciary a done deal? Not so fast

President Barack Obama has elevated to the bully pulpit a proposal that would raise investment advice standards for brokers working with retirement accounts, but presidential attention may not get a final rule over the finish line by the end of his administration. On Monday in a speech at AARP , Mr. Obama directed the Department of Labor to move ahead with a rule that would extend the definition of "fiduciary" to more advisers of 401 and individual retirement accounts, requiring them to give advice that is in the client's best interest.



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