You’d be surprised. This isn’t even a hard and fast requirement in fields like life insurance and retirement planning. In fact, the Obama administration tried t

You’d be surprised. This isn’t even a hard and fast requirement in fields like life insurance and retirement planning. In fact, the Obama administration tried to put strict rules in place, then the Trump administration halted them, then watered them down substantially, and the Biden administration only recently allowed the watered-down rules to go into effect. Basically, unless someone specifically tells you they are acting as a “fiduciary”, or in very narrow circumstances like an attorney or Realtor (but not an investment advisor), they have no obligation to put your interests above their own. The most common case, still legal, is advising clients to put money into mutual funds that carry a sales commission that is not disclosed to the buyer, even though those funds are rarely the best choice. https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/DOL-allows-investment-advice-rule-to-take-effect.aspx https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pa...