ERISA fiduciary rules will apply to IRAs including those created by rolling a 401k. Read more in this WSJ article.
While 401(k) workplace retirement plans have strict rules requiring any financial advice to be in the best interest of individual savers under a 1974 law called Erisa, those rules haven’t historically applied once nest eggs were rolled over into individual retirement accounts.
The new regulation would extend Erisa’s fiduciary requirements to all advisers, brokers and insurance agents who provide advice on IRAs, including rollovers. The change starts going into effect on Sept. 23, though it might face legal challenges. The industry will then have another year to fully comply, the Labor Department said.
QUINNSCOMMENTARY 
Maybe this rule will clear up the instances where people are found to have a lot of high priced investments due to pressure sales tactics by advisors/brokers. I’ve read numerous instances of people being placed in high priced, under performing stuff because they were too ignorant to demand better.
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Good solid information–appreciate you’re bringing it forward.
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