Joe Valenti: A secure retirement demands limiting conflicts of interest

  Can you trust your financial adviser? Many Americans aren’t so sure. Thanks to a recent announcement from the U.S. Department of Labor, however, the answer may soon be “yes.”

  This week, the Department of Labor announced its final rule on conflicts of interest in retirement investment advice, also known as the fiduciary rule. Fiduciary is a five-syllable legal concept, but in practice, the intended effect of the rule is quite simple: All financial professionals selling retirement products will be legally required to act in the best interests of their clients rather than their own.