Retirement Investment Conflicts Cost Americans
from CPA Practice Advisor
As retirement funds have shifted from defined benefit to defined contribution, Americans are required to directly manage their own retirement plans for which good investment advice is essential. To ensure that investors receive sound investment advice, the Labor Department recently adopted a new rule that subjects brokers and investment advisers to a higher fiduciary standard — they must recommend investment products with the "best interest" of the beneficiaries in mind.
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