New Fiduciary Standard
With new fiduciary standards rolled out by the Department of Labor, it’s clear that advisors are expected to put their clients’ interests first. That means that suitability is no longer the bar for passing along advice. Now advisors are expected to provide the best possible advice to clients.
It’s simply not feasible for a Social Security claiming tool with a handful of strategies to deliver the best possible advice to your clients. Your financial planning software that claims to “optimize” Social Security likely isn’t covering the fiduciary bases either.