New Fiduciary Standard for Retirement Plan Advice



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The big news out of Washington D.C. this week is that the Department of Labor (DOL) has released a new rule that will require all financial advisors to follow a fiduciary standard when offering investment advice to individual investors for their retirement accounts.  This new rule is designed to provide improved protection for consumers saving for retirement.  A “Fiduciary Standard” means that the advisor must make recommendations that are solely in their client’s best interests.  This goes above and beyond the previous “Suitability Standard,” which required advice to only be suitable, even if the recommendations were not necessarily in the client’s best interest.  The new rule goes into effect in April, 2017.

We applaud this change.  Saving and investing for retirement is difficult enough without the added burden of guarding against unscrupulous advisors who are more interested in collecting high fees and commissions than helping their clients reach their financial goals.

For Horizon Advisors, the new DOL legislation does not change our approach at all.  Since our founding in 1999, we have adhered to a fiduciary standard.  In fact, as a Registered Investment Advisor (RIA), we are required to act as a fiduciary for our clients.  But more importantly, we believe that it is the right thing to do.   Our primary goal has always been to help people prepare for their future.  In our opinion, that is difficult to do if we allow our own self interest to interfere with our objectivity.

To learn more about the new DOL regulations on the fiduciary standard of care for investors, we suggest reading this recent article posted by USA Today.  If you’d like to learn more about Horizon Advisors services, please email us at .

Horizon Wealth Advisors
Horizon Wealth Advisors is a Houston-based, privately owned, fee-only financial advisor established in 1999. Our mission is to develop long-term relationships with thoughtful, successful individuals, families, and organizations by supporting and assisting them in achieving their financial goals.

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