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A new conflict of interest rule
The Department of Labor has proposed a new retirement rule to close governance loopholes and require financial advisers to give retirement advice in the best interests of savers and not themselves. According to the federal government, “bad financial advice by unscrupulous financial advisers driven by their own self-interest can cost a retiree up to 1.2 percent per year in lost investment, which could add up to 20 percent less money when they retire.” Bethan Moorcraft reports on this new proposed retirement rule. Read Ms. Moorcraft’s article here…
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