Tag: retirement investment advice
Retirement Savers Should Be Protected Against Costly Financial Advice – Especially for Rollover IRAs
But courts block effort to curtail conflicts of interest. In October 2023, President Biden announced that the Department of Labor (DOL) would propose a new rule to protect people saving for retirement against conflicted advice. Under the current state of play, DOL regulations regarding advice to employer-sponsored plans are governed by ERISA’s fiduciary rule, whic…
The Department of Labor eliminates most conflicts of interest in investment advice. The Department of Labor’s revised “fiduciary rule” is a great victory for consumers. The rule is complicated but the goal is to make sure that those in the financial services industry act as fiduciaries – that is act “solely in the interest” of…
