The New York Times ran a must-read article this week on the important differences between brokers and investment advisors. As I have written in the past, the difference between brokers, or self-labeled “financial advisors” who work for big brokerage houses, and registered investment advisors is stark. Brokers are held to a suitability standard whereas investment advisors are held to a fiduciary standard.
The Young Research Affluence Index has outperformed the Young Research Discount Goods Index by 100% since the economic recovery began. Our chart indicates that the economic recovery has still not reached low and middle income consumers.