LABOR DEPARTMENT: Seeking unbiased retirement advice
The Labor Department is on target to finalize in May its proposal to ensure workers receive unbiased advice…
The Labor Department is on target to finalize in May its proposal to ensure workers receive unbiased advice about how to invest in their IRAs or 401(k) plans, a rule proposed in February 2010 as part of the White House Middle Class Task Force’s year-end report. The rule would prevent investment advisors from slanting their advice for their own financial benefit. Investment advisors also would be required to disclose their fees, and computer models used to offer advice would have to be certified as objective and unbiased. For more details, click here. For a story from when the rule was proposed, click here.
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