Nonfiduciary regulations: How Obama changed investing forever
Jan 22, 2017 7:16 AM -
For years, personal finance writers have warned readers to keep an eye on their financial advisers. Some advisers, we pointed out over and over, are more like salespeople, paid to steer you toward particular products and prone to charging huge, unnecessary up-front fees. Then the president of the United States got involved. In early 2015, the White House Council of Economic Advisers put out a report estimating that "conflicted investment advice" cost Americans $17 billion a year.