A recent legal case hinged on how a fiduciary relationship affects the official time limit on when clients can sue their advisors. Here's what happened. (Photo: Shutterstock)

A state appeals court panel in California has ruled against former retirement planning clients in a case that hinges on how a fiduciary relationship affects the official time limit on when clients can sue their advisors.

A three-judge panel at California’s 6th Appellate District Court looked at the lawsuit filing periods for the relevant statutes of limitations. The panel found that the filing periods began when the planning clients learned about possible planning problems, while they were still the advisors’ clients, not after the clients broke away from the advisors.

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