4/17/2015 – Rules to Make Retirement Investing Safer (The New York Times)

Apr 20, 2015 Comments Off by

In a giant step forward for investor protection, the Department of Labor proposed new rules this week to ensure that financial advisers act solely in their clients’ best interests when giving advice and selling products for retirement accounts. The new standard of fiduciary duty would bar stockbrokers, insurance agents and other financial professionals from increasing their pay by steering clients into high-cost products and strategies when comparable lower-cost ones are available.

For Labor Department officials, the challenge now is to see the proposal through the rest of the rule-making process. The United States Chamber of Commerce, which has opposed the fiduciary standard, has already said it plans to ask for an extension of the 75-day comment period. Other delay tactics are all but certain.

Read the full article in The New York Times.

Financial Landing 2015

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