When most people go to the grocery, they don't pick food marked as "suitable". The word "suitable" in and of itself gives off the air of something being just okay-not the worst, but not the best either. We all strive to have the best of whatever we're after in life-we aim for the highest of what we can afford and attain, rather than setting our sights on sub-par quality. For years though, many retirement agencies have just had to abide by something called the "suitability standard". This standard-as I'm sure you can guess-meant that the advisor didn't necessarily have to give you the best advice for you-they only had to give advice that was somewhat okay for you but, more importantly, whatever was the best advice for them. While the recent Department of Labor ruling that all retirement advisors must now follow a fiduciary standard and instead give advice on what is best for the clients instead, questions remain about what this really means for you. This week on Retirement 360 with Kentuckiana's Retirement Coach Alan Mercurio and co-host Tony Vanetti, we'll be going over what a fiduciary really is, and the four major loopholes you need to be on the lookout for when it comes to choosing a financial advisor. While all retirement advisors are now required to follow the fiduciary standard, many are trying to slip fees into contracts with their clients without making it expressly clear to them. Even worse are those who are choosing to become dually registered as following both the suitability clause and fiduciary standards, which means you don't know which rule they're applying to the advice they give you. Making sure you have an advisor who follows a fiduciary standard is paramount to making sure the advice you receive is the best you can get. Joining us will also be Rhonda Day, a vacation expert who will be discussing some of the things retirees need to be on the lookout for when using a travel agent to plan their getaways. Don't miss this week's Retirement 360, to make sure you're staying ahead of the game.

Retirement 360 is a Sunday morning radio tradition in the Louisville, Kentucky area, running for well over a decade. Alan Mercuio and Troy Bolton of Mercurio Wealth Advisors take a look at economic issues and topics related to retirement planning, as well as educating listeners to help prepare them for their post-working years, whatever they may have in mind for them.