On April 7, the Department of Labor issued a final rule defining who is a fiduciary investment advisor of an employee benefit plan under the Employee Retirement Income Security Act of 1974. The Final Rule requires financial advisors and brokers handling 401(k) accounts, as well as Individual Retirement Accounts and Annuities (IRAs), to “put their clients’ best interest before their own profits.” The final rule is scheduled to be published in the Federal Register on April 8. Compliance with the rule is not required until April 10, 2017, providing “adequate time” for financial services and other services providers affected by the rule to adjust their statuses from non-fiduciary to fiduciary.