On April 6, 2016 the Department of Labor announced the new so-called “Fiduciary Standard” for financial brokers who sell retirement products, requiring them to put clients’ best interest ahead of their bottom line. The new rules could shake up how brokers handle billions of dollars in Americans’ retirement investments. The language is tougher than an existing rule which only requires brokers to ensure products are “suitable”.  The Fiduciary Standard rule is aimed at protecting retirement savers from profit-hungry brokers, but is much weaker than the initial draft proposal. Unlike the draft proposal, the final rule does not restrict brokers from pushing proprietary products, splitting revenue with creators of funds they promote, or recommending risky, high-fee investments in alternative assets and certain annuities. The rule will take full effect on January 1, 2018.