President Obama’s latest financial regulation on retirement accounts will not help savers. But it will help the lawyers.
What the White House is trying to do is force savers to work with investment advisors, not brokers, when rolling over their 401(k). I’ve long been a proponent of investments advisors for my own obvious reasons—I am one. But this rats nest of regulation will steer money to big Wall Street, not Main Street. Read here on the fiduciary standard and why a fiduciary should be your guide when looking for investment advice.
