As an investor, you can anticipate more transparency and advice when it comes to any recommended investments, particularly those associated with higher fees and risk levels.
The rule was also designed to prevent instances of client steering — when brokers and/or advisors direct clients to invest into the firm's own, more expensive investment products over other choices, without providing the required conflict-of-interest disclosures.
This year, anticipate higher health-care costs, higher interest rates and more transparency and advice concerning recommended investments in retirement accounts. Those who stay informed about how the changes can impact their personal financial circumstances will be better prepared in their short-term savings and long-term investments.
— By Jon Stein, special to CNBC.com. Stein is founder and CEO of Betterment.