Brokers are not necessarily required to act in their customers’ best interest, even if they are advising on their retirement money. While that would seem to be a basic consumer protection, in Washington and on Wall Street it has proved to be wildly contentious.
(Brokers are currently required only to recommend “suitable investments,” while professionals known as investment advisers must act in their customers’ best interest).
Saturday, June 14, 2014
This is from the NY Times:
Posted by Steve J. at 2:01 AM