A seismic shift is in the cards for your 401(k) and IRA savings now that a rule that requires financial advisors to work in your best interest is ineffect.
The Labor Department had delayed the regulation's original April 10 start date by 60 days after President Donald Trump issued a presidential memorandum in February calling on the agency to review the rule and deliver an updated economic and legal analysis.
"It's important to ask how your advisor is getting compensated," said Farnoosh Torabi, author of "When She Makes More" and host of the podcast "So Money."
"We shouldn't assume that the rule will be implemented overnight," she said. "We still have to do our own due diligence."
Bear in mind that the Labor Department's regulation, which went into effect Friday, applies only to retirement accounts, but not taxable brokerage accounts.
Here's what you can expect now that the investor protection rule is here.