Breaking Down President Trump's Changes to the Fiduciary Rule

President Trump has signed a memorandum putting the Fiduciary rule in limbo. So, if you want to protect your retirement money, you probably have some tough questions. The small investor has never been adequately protected from the financial industry and it's a safe bet that will only get worse under the Trump Administration. But one thing is certain, you should be more cautious than ever! That, unfortunately, means more work for you. 

First, ask your broker whether he or she is a fiduciary putting your best interests first. Second, get that in writing! 

If they refuse... take your business elsewhere. 

If you are looking for a new broker, do your research. Look them up on Finra's BrokerCheck website, but also do a Google Search to see what else is out there. 

Finally, find out if your broker or adviser has insurance. If push comes to shove and you end up in court or arbitration, you want to make sure that if you win, you will get paid. The battle over the Fiduciary rule is far from over. So keep an eye on the news as you keep an eye on your retirement.

This article was written by a staff member of TheStreet.