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September 13, 2015

Financial advice should benefit the recipient

The Baltimore Sun, by Charles D. Ellis and Scott D. Puritz

Here’s the problem: Savers — small and large — often have to rely on advisers to understand their options regarding investing their retirement savings. Outdated Labor Department rules have allowed brokers, insurance agents and others offering retirement investment advice to put their own interests ahead of their clients’ best interests. Such investments generate handsome commissions […]

September 10, 2015

Financial industry protects itself, not investors

Bankrate, by Sheyna Steiner

Previous surveys have found that most investors are not sure how to differentiate investment advice from a sales pitch. “IRA investors believe their adviser is serving their best interest. People believe they are getting advice that is in their best interest, but the evidence shows that they are not,” says Micah Hauptman, financial services counsel […]

September 9, 2015

Enforce ‘Conflict of Interest’ Rule for Financial Advisers, Save Retirees | Commentary

Roll Call, Blaine Aikin, fi360 and Nancy LeaMond, AARP

Those trying to do the right thing by saving for retirement — and seeking professional help to do so — deserve investment advice in their best interest. … Today, we can take a major step toward closing the “retirement advice loophole” that exposes millions of American workers to conflicted advice. The Department of Labor has […]

September 8, 2015

About Save Our Retirement

  The seven organizations that launched the campaign – AARP, AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Consumer Federation of America and Pension Rights Center – are joined by a diverse collection of financial entities, public interest groups, civil rights leaders, labor unions, consumer groups, professional organizations and others in support of the […]

August 25, 2015

The Best Protection for Your Retirement Savings

Blog by Secretary of Labor Tom Perez

“Building a nest egg for retirement is one of life’s most important challenges – especially since fewer and fewer workers have traditional pensions like our parents and grandparents had. With so many of us relying on financial advisers to help us save for retirement, it’s more important than ever to ensure that we’re getting the […]

August 18, 2015

DOL’s fiduciary standard: Good for clients; workable for advisers

The Hill by Ray Ferrara

“Earlier this year, the Department of Labor (DOL) re-proposed a rule that would require financial firms and advisers providing retirement advice to do something the vast majority of consumers already believe they are required to do: provide advice that is in the best interests of their clients.” Read the full article on The Hill by […]

August 14, 2015

Retirement firms, protecting their conflicts of interest, take to the airwaves

LA Times by Michael Hiltzik

…At one point, the news program took a break to run a heartrending vignette about a couple who had just dropped off their child at college. “How are we going to afford this?” the wife asked wryly, back in the car. “It’s these new regulations they’re pushing in Washington that worry me. They want to […]

August 12, 2015

All Investors Deserve Unconflicted Advice

By Jon Stein and Eli Broverman

“Betterment supports the Department of Labor’s proposal to extend the fiduciary standard to anyone offering advisory services for retirement accounts. We believe that only unconflicted service is worthy of being called ‘advice.’”  Read the full article on by Jon Stein and Eli Broverman here.

August 11, 2015

Can Wall Street Kill a Fiduciary Rule?

Barbara Roper, Director of Investor Protection, Consumer Federation of America “For some time now, SIFMA, the self-described “voice of the U.S. securities industry,” has been loudly proclaiming its support for a fiduciary standard for brokers while working overtime to kill Department of Labor (DOL) rulemaking to achieve that result.” Read the full article here.  

August 3, 2015

You’ll Never Guess What’s Eating Away at Your Retirement Savings

The Motley Fool by Ilan Moscovitz

“Imagine there were two different kinds of doctors — “Doctors” and “doctors”. Both have shiny offices, conduct fancy medical tests, recommend procedures, treat you, and are otherwise indistinguishable.”  Read the full article on The Motley Fool by Ilan Moscovitz here.