After long delays, the Department of Labor is poised to release new rules Wednesday on the legal obligations of financial advisors. The new rules will likely require brokers to abide by a "fiduciary" standard — putting their clients' best interest before their own.
This is a battle about getting your financial advisor to act in your best interest. It's also a battle to lower the cost of investing, which, depending on your advisor, can be anywhere from cheap to very high.
In one sense, it's simple. There are essentially two different types of financial advisors: brokers and investment advisors. Both can sell you stocks and bonds and ETFs and mutual funds, but the standards are different.