Roger Wood Indepth
How do you know that your financial advisers are putting your interests over their own? A new fiduciary rule just finalized by the U.S. Department of Labor is expected to address that.
It will affect IRAs and 401K retirement plans, which have tax advantages. That, according to Bartlett Naylor, Financial Policy Advocate with Public Citizen in Washington.
He spoke to Roger Wood about the rule and the fact that before this, brokers and financial advisers who put their own bottom lines above their clients’ welfare have resulted in losses of some $17 billion dollars a year to investors.
The losses are from hidden fees and sales commissions. That info is from the White House Council of Economic Advisers. Aging investors lose the money through the fees, commissions and second-rate investments. For InDepthNH.org, I’m Roger Wood.