President Donald Trump has set the wheels in motion to throw away the Department of Labor's fiduciary rule.
Here's why you should care.
The fiduciary rule is a regulation that requires financial advisors, brokers and insurance planners to only act in the best interest of their customers.
So what does this all mean?
Fiduciary means to act in good faith and trust.
You expect some people in your life to be fiduciaries and yet others you don't.
Take, for instance, your lawyer or your doctor.
You'd expect your doctor to only prescribe medication that's good for you and not try to make money off of you, right?
On the other hand, if the fiduciary rule applied to everything, imagine how something as simple as ordering a cup of coffee could play out.
So you walk into the coffee shop and order an iced latte.
