While the Fiduciary rule has not been signed there have been many firms that have already implemented it. I was thinking about this subject because my quarterly fee was just deducted from account yesterday and I have my opinion on it. My guess is that the average fee is around 1-2% annually of total assets, but could be more or less. Background I’m retired I worked for one of the largest financial firms in the country. After the financial melt down after I was packaged out. I’ve now been retired for six years. I already had taken out my 401K to convert to an IRA at age 59 1/2 because I wanted the freedom of have more choices on how to invest my retirement fund. When I was packaged out I also had a retirement fund with the company that was fully vested. I added that and any remaining 401K money that I accumulated while still working. If you are just starting to use an advisor and creating your accounts with various financial products I believe the Fiduciary Rule will be good for you as this is the time when most of the fees are incurred. Obviously it depends on what’s bought and sold during your initial reconfiguration of your retirement funds, but I think overall I think that the new rule as I understand it will benefit new retires converting 401K type accounts to IRA and managed by advisors under this rule. Of course enforcement to comply to the rule may be difficult because defining what’s in the best interests of the client can be difficult to define. Last year my financial advisors that were handling my IRA came to me and told me the company that had decided to implement the Fiduciary Rule and they gave me a discount from the rate I would be charged because I was a good customer as was with them for many years. They changed the classes of almost all of my mutual funds and they ceased to charge my any fees during sales of any issues or purchases for reinvesting dividends. It would be covered in the fee. I was thinking about how the Fiduciary Rule affects me. I’ve been very happy with my advisors because I’ve been taking withdrawals for six years and I currently have more money than I started with. There is no way I can determine what I was paying in commissions when I started the various funds, and many bonds that were bought because this was all included in the price for each transaction. I thought about it and I feel that for me this is not necessarily a plus. Now I don’t have many transactions and I doubt that commissions would amount to what I currently pay out on a quarterly basis. I think the Fiduciary rule does not much for me but it does help my advisors get paid to watch my account. I’d be interested in know what some others are thinking about the rule.