The long-awaited regulation that aims to protect your retirement savings and require your financial advisor to work in your best interest will take effect June 9.
The Department of Labor delayed the original start date of April 10 by 60 days after President Donald Trump issued a presidential memorandum in February, calling upon the agency to review the regulation and prepare an updated economic and legal analysis.
"When investors receive retirement investment advice, they will receive pretty significant protections and the advice will be in their best interests," said Micah Hauptman, financial services counsel at the Consumer Federation of America.
The rule covers 401(k) plans and individual retirement accounts (IRAs). Here's what you can expect in June. You can also consult the DOL's list of frequently asked questions for additional help.