President-elect Donald Trump's campaign strategists have said he will repeal the federal rule that requires retirement investment advisers to abide by a fiduciary standard to put their clients' best interest before their own profits. However, experts say that's unlikely to happen in the short-term or potentially ever, suggesting the rule is well down on the President-elect's list of priorities. The Labor Department's fiduciary rule goes into effect April 10, 2017 and firms are already changing the way they'll do business with their clients who own retirement accounts.
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