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Former DOL Deputy Director Declares Scandal in IRA Rollovers
Employee Fiduciary Link to more items from this source
Aug. 20, 2014
"The current standards allow brokers to present sales pitches that appear to be similar to investment advice. Retail investors have a difficult (impossible?) time distinguishing between a sales pitch and unbiased advice. The result is that many investors are lured away from appropriate and low-cost investments into higher-priced investment vehicles sold by someone who puts his or her own fees ahead of the best interests of the investor. Allowing these practices just adds to the many challenges people face in saving for retirement. Financial advisors should be in the business of helping people succeed at investing. Period."

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