Buyer Beware: Life After the Fiduciary Rule

Back in 2015, President Barack Obama proposed new regulations with a straightforward-sounding aim: Protect everyday investors by ensuring financial professionals serve in the best interests of their clients — "above their own financial interests," he said at the time.

Right away, the new measure, known as the "Fiduciary Rule," was opposed and criticized by many in the financial industry. It's implementation was challenged and then further delayed after Donald Trump became President.

Now, the regulations will likely go away entirely. After a federal appeals court ruled against the fiduciary rule, the Trump administration has chosen not to appeal the decision, meaning the rule will effectively disappear as of May 7, 2018.

What does all this mean for average investors? This week on Money Talking, Charlie Herman discusses the issue with Megan Leonhardt, a reporter for Money Magazine who covers consumer protection issues, and Jason Zweig who writes the "Intelligent Investor" column for the Wall Street Journal.